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Old 03-21-2018, 09:44 AM
moneytradecoin moneytradecoin is offline
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Default Israel Bans Crypto Companies from the Tel Aviv Stock Exchange

The Tel Aviv Stock Exchange or TASE, has announced that crypto based companies are banned from the market indices. The regulation has been instituted by the Israel Securities Authority (ISA) after the authority had announced their plan for regulating cryptocurrencies in the TASE market earlier this year.

An ICO regulations and guided working manual is to be published soon this year and according to the ISA, the change of TASE regulations has no association with this new crypto update. The committee has instead issued a cautionary statement about investing and trading in cryptocurrency. ISA claims, “Such investment incurs many exceptional risks, including an absence of liquidity and ability to convert the currencies to money, exceptional price volatility, illegal activity, and risk of fraud”.

The warning from ISA further states that investor must be be prepared to face the high probability of risk from investing money, directly or indirectly, in cryptocurrency or crypto company. They elaborate on the risks of losing money and assets when it comes to the crypto market and trading in cryptocurrency as well. Many banks like the Bank of Israel, do not categorise cryptocurrency like Bitcoin as a valid type of currency but rather as an asset.

Anat Guetta, the chair of ISA, has held the post from January this year and has already taken her stance on cryptocurrency. She states that barring crypto companies from TASE will safeguard the market against passive investors that are prone to such risks. She further warns of the volatile environment surrounding crypto investment and high risk of losing money in this market. As per the new regulation, the ISA will review the regulations in TASE and block out any company related to cryptocurrency. This means that any business, exchange, platform, or company that allows investing, trading, and mining of crypto coins like Bitcoin, Ether, and other Altcoins will be restricted from investing in TASE. This regulation is temporary for the length of this year, until it is reviewed again and reinstated or not based on the market projections and developments. Chairman of the Israel Bitcoin Association, Meni Rosenfeld, responded to the new regulations on cryptocurrency, by stating, “There are indeed several risks in investing in digital currencies, and people should take them into account in order to make wise decisions. Investing in this sector is not suitable for everyone; it is only for those who understand both the potential and the risks”.
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