Prof. Shmuel Hauser, the Chairman of the Israel Securities Authority (ISA), spoke at the Fintech conference at the Ono academic campus and discussed digital coins and investing in them.
Hauser asked what is the source of the economic value of such coins and added that their price fluctuates and there are possibilities of fraud, despite the fact that some people bought a long time ago and are now supposedly millionaires.
"I'm not against digital coins and Bitcoins but I am in favor of the state adopting a measure of paternalism in order to protect the public. It's not enough to warn people, there must be a regulatory authority to protect gullible investors who do not understand that they could lose their money. There must be a responsible elder, there must be an address for investors," Hauser added.