The Tel Aviv Stock Exchange (TASE) is focused on allowing non-banking clients to trade crypto.

The Tel Aviv Stock Exchange (TASE), which operates Israel’s only publicly traded stock trading platform, is looking to expand authorized activities to allow its non-banking clients to trade crypto, according to an announcement made on Feb.

TASE Previously Expressed Its Desire to Establish a Digital Asset Platform

Non-banking financial institutions may offer services such as investment, advisory, brokerage or check cashing, but cannot accept deposits from the public. According to the announcement, it was stated that the proposal to change TASE’s rules is currently open to public comment and will then be submitted for approval by the board of directors.

The proposed structure will allow non-banking members to trade crypto through licensed crypto trading and custody services.

In the wake of the crypto market turmoil of 2022, regulators in Israel are warning the public and institutions of the risks involved. In early February, the country’s market regulator issued a warning against unlicensed crypto exchanges, while the Bank of Israel on Sunday warned local banks and credit card companies of the risks of engaging with crypto companies.

TASE said its move to cover crypto trading for non-bank customers could meet the growing demand for crypto while mitigating the various risks inherent in crypto activity.

A strategy report released in October indicated that TASE wanted to build a blockchain-based digital asset trading platform.