The Israel Securities Authority (ISA) is going to propose a ban on digital currency-related companies from trading on the Tel Aviv Stock Exchange, according to Reuters.

Speaking at the Calcalist business conference, ISA Chairman Shmuel Hauser said that he will bring the proposal to the ISA board next week.

“If we have a company that their main business is digital currencies we would not allow it. If already listed, its trading will be suspended,” Hauser said, adding the ISA must find the appropriate regulation for such companies.

The announcement comes at a time when the cryptocurrency market is experiencing explosive growth. Bitcoin price soared to a fresh all-time high at $19666 on December 17, 2017 (Bitstamp). This was followed by a downturn as bitcoin price plunged to 11159 on December 22, 2017.

“We feel that the prices of bitcoin behave like bubbles and we don’t want investors to be subject to that volatility and uncertainty,” Hauser said. “There is an importance to signal to the market where things are... Investors should know where we stand.”

If approved by the ISA board, the proposal would be subject to a public hearing, followed by the amendment of the stock exchange bylaws.

According to Calcalistech, a committee appointed by Hauser has begun the work on drafting recommendations on the regulation of securities that are tied to cryptocurrencies.