Israel will conduct an audit of private blockchain-platforms

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Israel Securities Office (ISA) plans to develop a regulation for the exchange platforms for digital assets using a distributed registry technology.

According to the chairman of ISA Anati Getta, the project will help to offer investors a full chain of the cost of creating a value in which digital assets are registered, traded and distributed. Therefore, the regulator appealed to business with a request to submit evidence that their solutions based on the blockchain work correctly.

After the verification stage is completed, the ISA intends to develop appropriate standards that will enable digital platforms on the Israeli capital market.

At the recent conference, representatives of Israeli regulators expressed their view that the technology of a distributed registry is able to disrupt new financial opportunities for the participants of the assets and securities market.

The audit of the platforms was announced after the Special ISA Committee for six months carefully studied the characteristics of the blockchain and the options for its use. Officials came to the conclusion that the technology has great potential for use in the field of primary public placement of shares, trade and clearing, since it allows to reduce costs and systemic risks, as well as speed up the settlement processes.

While Israel plans to develop this direction, the Swiss financial regulator

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