TVAVF - Tel Aviv Stock Exchange wants to allow crypto trading for customers of its nonbank members

• The Tel Aviv Stock Exchange ( OTC:TVAVF ) on Monday proposed letting customers of its nonbanking members to transact in cryptocurrency .
• Israel's sole public stock exchange, referred to as TASE, is seeking to enable its nonbanking members to buy and sell crypto on behalf of customers via licensed trading and custody providers.
• The move comes as TASE aims to meet increased demand for crypto trading, while mitigating "the various risks (operational, legal, cyber and other) that are inherent in" the broader space.
• The company's proposal is now open for public comment, upon receipt of which will be submitted for approval by the TASE board.
• Nonbanks, known as shadow banks, are unregulated financial institutions that offer bank-like financial services such as investments and brokering. They don't carry a full banking license so they cannot take in deposits from the public.
• In October 2022, TASE sought to enter crypto with a digital asset trading platform .

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