- Nasdaq had introduced that it might launch crypto custody companies earlier than the top of the second quarter of 2023.
- The worldwide securities market, nonetheless, suspended the launch of the companies.
- The Nasdaq cited the altering enterprise and regulatory setting in america.
The launch of Nasdaq’s personal cryptocurrency guard, which it had beforehand deliberate to roll out by the top of the second quarter of 2023, has been placed on maintain.
Based on CEO Adena Friedman, throughout the second quarter earnings name, Nasdaq postponed the launch of its digital asset custody enterprise attributable to regulatory dangers in america.
Confirming the suspension of the launch, the CEO mentioned:
“This quarter, given the evolving enterprise and regulatory setting in america, we made the choice to discontinue our launch of the U.S. digital asset custodian enterprise and associated efforts. to acquire a related license.”
Nasdaq nonetheless dedicated to cryptocurrencies
As the worldwide securities market suspended the launch of its personal crypto custody companies, it burdened that it remained dedicated to the business improvement of digital property.
Whereas assuring purchasers that Nasdaq will likely be watching the market intently for doable regulatory occasions within the coming months, Adena Friedman mentioned:
“We proceed to develop and ship expertise capabilities that place Nasdaq as a number one supplier of digital asset software program options for the broader world business. This contains advancing our custody resolution as a expertise platform to serve the broader world marketplace for digital property.
The information comes as main crypto associates resubmit purposes for Bitcoin exchange-traded funds (ETFs) to the SEC. Nearly each firm that plans to concern BTC ETFs is working to listing them on the Nasdaq trade. The SEC ought to evaluation the resubmitted purposes and decide whether or not to approve or deny them. The newest Bitcoin ETF app to be accepted by the SEC is the Valkyrie Spot Bitcoin ETF app.
