NASDAQ Gives a Green Signal and Becomes A Crypto Exchange. Nasdaq, having $9 trillion market cap is the second largest stock exchange worldwide. CEO of NADAQ, Adena Friedman was asked in a TV interview at CNBC about what position does NASDAQ takes in becoming a service provider for crypto trading.
The question was straight and quite clear and so was the answer. However, it is significantly valuable for the crypto market to have a green signal from one of the largest exchanges.
In her reply to the answer, she said “A lot of people are frustrated that even if they go into (the cryptocurrency) market, they have no liquidity (at an) exchange”
The host of the show, Kevin O’Leary said that providing services to crypto market would be natural for Nasdaq and asked for the views of the CEO.
NASDAQ Gives a Green Signal and Becomes A Crypto Exchange
In response to the question, she said “It’s an unregulated space today, so it’s not something that we’ve decided to go into becoming a (crypto) exchange but we are providing our technology now to other crypto exchanges”
Nasdaq is already offering services to Gemini, a crypto exchange, by using its surveillance technology to monitor crypto trading pairs.
She explained her point by saying that Nasdaq will certainly look forward to moving its platform to a crypto exchange if people wanted a more regulated market. She believes that investor would like to trade at a platform which provides a fair experience to the investors. Adena asserted that they would consider this venture, over time.
Does Nasdaq Believe in Crypto Currencies?
In a response to a question about whether Nasdaq believes in crypto currency, her answer was optimistic. Her stance was clear as she believe digital currencies will continue to persist. However, the only question posed was about the amount of time it takes to to get mature. Reassuring her point, she said Nasdaq will definitely consider it if the need of a regulated crypto market becomes inevitable.
Nasdaq Opinion about ICOs
On the contrary, she was not so much optimistic about the ICOs. She raised concerns over the recent fraudulent activities took place in the name of ICOs. “ICOs need to e regulated. The SEC is right that those are securities and need to e regulated as such”
The Future of Crypto Regulations
It is highly unpredictable to say anything about crypto related stuff since the whole market is as volatile as the value of any digital currency. The facts does not support any hope for the crypto amidst the recent bans from Indian and Pakistani top banks. Iran has also announced a similar kind of restriction on the banks for doing crypto transactions.
However, the positive things are also happening side by side. Blockchain is widely acknowledged and people are moving to this remarkable technology. We have seen market experts making bullish predictions about its future. There are also talks going around about its regulations.