According to the Israel Securities Authority (ISA), Israel is considering to ban trading of companies whose core business revolves around bitcoin and various cryptocurrencies on the Tel Aviv Stock Exchange.
The suggested amendment would prohibit listing shares issued by businesses that mainly own, invest in or mine cryptocurrencies. Following this, the ISA board has approved the amendment and is yet to give public comment.
The companies would also not be allowed in the exchange’s indexes. Moreover, companies would be delisted if they already trade on the stock exchange.
However, this would not apply to businesses with 3 years of audited financial statements more than 100 million shekels in equity (USD $29 million).
In December 2017, outgoing chairman of the ISA, Shmuel Hauser was planning to suggest such a proposal as he believed bitcoin prices were behaving like a bubble.
The suggestion for the amendment is the result of a spectacular increase in shares of Blockchain Mining, which is said to concentrate more on mining cryptocurrencies than mining iron and gold.