The Tel Aviv Stock Exchange (TASE), which unites 27 Israeli banks and brokerage companies, has issued an open offer to expand the list of activities for non-bank members of the exchange (NBM). The offer includes permission to trade crypto assets.

The changes proposed for public discussion will allow NBM clients to deposit fiat money for investments in cryptocurrency, which will be traded by licensed providers. Non-bank participants will be able to act as intermediaries between the client and providers of trading and custodial services.

For example, when a client places an order to buy or sell cryptocurrencies, the purchase or sale will be made using the deposited funds and registered in the client’s account with the NBM.

The expansion of the list of operations was provided for by a five-year strategic development plan, the ultimate goal of which will be the development by 2027 of our own blockchain platform for providing crypto exchange tools and services. TASE believes that the transfer of crypto asset trading to a regulated exchange can help Israeli market participants reduce the operational and legal risks directly associated with cryptocurrency trading.

The Central Bank of Israel has submitted to the public the updated regulatory rules for regulating stablecoins. The financial regulator intends to divide supervisory functions between several state bodies, as well as oblige stablecoin issuers to obtain a European license to operate.