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 .