An Israeli start-up that aims to establish a digital ledger technology-based digital securities exchange in the country has received its first, encouraging go-ahead from the Israel Securities Authority.
In an application letter filed with the regulator on Feb. 14, Simetria had sought the ISA’s approval to operate a digital bulletin board as a preliminary step in its roadmap for the eventual launch of its digital exchange. The letter noted the increasing integration of DLT technologies into market infrastructures globally, and the evolution of legislative frameworks to accommodate this innovation.
In the case of Israel, a Memorandum of Securities Law published by the ISA in 2020 proposed legislation that would facilitate the creation of smaller-scale, innovative digital exchanges:
“The Ministry of Finance wishes to promote securities trading activities on trading platforms that do not operate on the same scale as the Tel Aviv Stock Exchange, and have unique features or designated purposes, such as trading platforms designated for sophisticated investors (such as insurance companies, pension funds, and banking corporations) or platforms that use novel technologiesTitle: Israeli digital securities exchange gets preliminary green light from regulators
Sourced From: cointelegraph.com/news/israeli-digital-securities-exchange-gets-preliminary-green-light-from-regulators
Published Date: Thu, 18 Feb 2021 12:53:28 +0000