The Israeli Securities Commission will exclude companies investing in cryptocurrencies from Tel Aviv Stock Exchange

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2018-03-18
The Israeli Securities Commission will exclude companies investing in cryptocurrencies from Tel Aviv Stock Exchange

The Israeli Securities Commission (ISA) stated that it would temporarily exclude public companies that are investing in cryptocurrencies and mining from the Tel Aviv Stock Exchange indexes because of the high volatility and risks for passive investors tracking these indices.

ISA stressed that the shares of public companies related to cryptocurrencies are growing in price as sharply as they fall, sometimes for no apparent reason, which already creates risks for investors. However, the department does not intend to prohibit the sale of shares of such enterprises. So, ISA protects only passive investors and does not prohibit the rest from investing in cryptocurrency companies.

Restrictions are introduced only for one year, after which the regulator will reconsider the situation. Israeli department plans to limit the access of crypto-currency companies to the stock exchange of Tel Aviv.

EU is also working on the issue of cryptocurrencies. However, there is still no single position towards cryptocurrencies, mining operations and ICOs. British prime minister Theresa May and US Treasury secretary steven Mnuchin both expressed the need to consolidate standpoints.

They can be called an asset, fine, but they are not a very good version of money because it’s not a very stable store of value where they fluctuate a lot,” she continued adopting a frequent narrative on Bitcoin’s use. “And it’s not a very efficient medium of exchange because you don’t buy your groceries with bitcoin.”

CRYPTOCURRENCIES
  • bitcoinBitcoin$3,937.77
  • ethereumEthereum$145.39
  • rippleXRP$0.320367
  • tetherTether$1.00
  • eosEOS$3.81
  • stellarStellar$0.089025
  • litecoinLitecoin$48.95
  • cardanoCardano$0.045029
  • tronTRON$0.024704
  • moneroMonero$49.28
  • iotaIOTA$0.301345
  • nemNEM$0.043423
  • dashDash$83.14
  • neoNEO$8.64
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