When the Tel Aviv Stock Exchange (TASE), the only public stock exchange in Israel, announced that it drafted a proposal for regulation-friendly crypto trading on Feb. 27, it echoed across the crypto industry as a step forward for crypto adoption. However, some experts have framed the proposal as a somewhat underwhelming update to the current crypto landscape in Israel.
In short, the TASE proposes that only authorized brokerages act as fiat-to-crypto onramps, aided by licensed crypto trading providers. The stock exchange said that it designed the framework to mitigate risks and enhance consumer protection. Without a specific timeframe, the proposal will be sent for approval by the TASE board of directors once the public comments have been submitted.