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Nasdaq Wants To Enter The Cryptographic Money Sector

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April 29, 2018 | 

Joanna Newman |  0 Comments| 

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With a market capitalization of $ 9 trillion, the giant electronic share market, Nasdaq, seeks to become a cryptocurrency exchange on a regulated market. It should be noted that the firm currently ranks second in the equity market sector.

Indeed, the CEO of the company announced this Wednesday during an interview that Nasdaq intends to become a crypto exchange in the coming days. Apparently, it would be a collaboration with the Gemini Cryptographic Money Exchange. A stock exchange that was founded by Bitcoin's early investors, the Winklevoss brothers.


The regulation of the sector still constitutes a major obstacle


According to a statement by a journalist from a US television channel dedicated to economic and financial information, cryptographic currency will surely continue to persist. It's just a matter of time for the industry to be more regulated.

However, regulation of this area remains a major hurdle for most institutional investors, including Nasdaq. Moreover, Adena Friedman, CEO of Nasdaq, thinks that this problem must first be solved before the company starts any exchange.

But while Friedman remains optimistic about the future of digital assets, she is less optimistic about the fundraising process known as Initial Coin Offering (ICO). Indeed, the CEO believes that ICOs are only titles and are not yet sufficiently regulated. According to her, the Securities and Exchange Commission (SEC) is right in announcing that they are securities and that they must actually be regulated as such.


The company already supports existing cryptocurrency exchanges


Aside from this initiative to collaborate with Gemini, the company has already partnered with a San Diego-based ETF company, Reality Shares, in recent months. An association that was made to launch two funds related to the Blockchain.

According to Eric Ervin, the CEO of Reality Shares, if it would be necessary to classify a company's interest in cryptocurrency on a scale of zero to 10, Adena Friedman would be six. He also added that she could even help the SEC to feel better with cryptographic currency trading. Moreover, Eric Ervin also think that if the SEC had to ask his opinion, Friedman would surely give a boost.

https://www.youtube.com/watch?v=W4oq917XNuA

The SEC closely follows the evolution of ICOs in the sector


The US SEC has already launched a survey on cryptographic currency and ICOs in early 2018. Indeed, the significant rise in Bitcoin prices last December caught the attention of these regulators. This regulator and financial market regulator has cracked down on an ICO fraud this year.

He also said in March that he was thinking of enforcing security laws on cryptocurrency exchanges and digital storage such as wallets. In addition, SEC Chairman Jay Clayton also announced that the organization devotes a significant portion of its resources to the ICO market.

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