CEO of Nasdaq Says that it is Planning to Become Cryptocurrency Exchange.

Bestowing to CEO of Nasdaq, the company is planning to become a platform for trading cryptocurrencies like Bitcoin. Adena Friedman asserts to CNBC’s that “Certainly Nasdaq would consider becoming a crypto exchange over time.”

She adds that “If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors.”

Nasdaq’s plan

The journey of Nasdaq and other institutional investors are these regulations. Adena claims that there must be a need to iron out before the company would add an exchange. She is cogent on the future of digital assets.

Friedman says, “I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” “Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it.”

While Nasdaq is backing existing crypto exchanges. On Wednesday, the company disclosed collaboration with cryptocurrency exchange called Gemini. It is initiating early bitcoin investors Tyler and Cameron Winklevoss.

Gemini’s citation

As per Gemini CEO, the deal gives Gemini access to Nasdaq’s surveillance technology. It assures that the platform gives a fair and rules-based marketplace for their own participants.

Although, Friedman is buoyant about the future of cryptocurrencies she is less so in the fundraising process which is called as an Initial Coin Offering. She says ICO’s need to be regulated. The SEC is right that those are securities and need to be regulated as such.

The U.S. Securities and Exchange Commission is fissuring down on ICO fraud in 2018. In the month of March, it is looking to applicable securities laws to everything from cryptocurrency exchange to digital asset storage firms called as wallets.

SEC’s comments on ICO

SEC Chairman Jay Clayton express that the watchdog is devoting a “significant portion of resources” to the ICO market.

According to reports, around 1,3oo percent rise of bitcoin prices last year certainly caught the attention of regulators. The Bitcoin is estimated at $20,000 in December before having its lowest first quarter in history. It drops 48 percent in the first three months of the year. The cryptocurrency is recovering above $9,000 this week. Simultaneously, digital currency is gaining 20 percent this week.

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Image Source:- Nasdaq 

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