In an interview with CNBC, the CEO of Nasdaq, Adena Friedman, has said that the company is contemplating creating its own cryptocurrency exchange shortly. Friedman also said that the world’s second-largest stock exchange would carefully evaluate the market to determine the viability of such a move.
Adena Friedman also said,
“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.”
Nasdaq has already expressed its intent in becoming a part of the cryptocurrency industry. It is being reported that Nasdaq will be launching its own bitcoin futures trading in the first half of 2018. Furthermore, the company has already taken an active interest in many blockchain-based enterprises.
Regulations are required
Friedman believes that cryptocurrency regulations may prove to be a major roadblock for Nasdaq in this regard. This is because the cryptocurrency market is mostly unregulated and this prevents institutional investors from investing in the crypto market. The Nasdaq CEO feels that adequate regulations must be put in before the company can take a concrete decision about making a move in this sector.
Friedman considers ICOs to be securities and is a point of significant concern for the Nasdaq CEO. She agrees with the stance of the SEC that states that ICOs should be dealt under securities law. The SEC has been spending a lot of time and resources for monitoring ICOs.
Nasdaq’s support for existing crypto exchanges
Although Nasdaq has not yet launched its cryptocurrency exchange, the company supports existing exchanges that deal with digital assets. It has recently collaborated with eminiemini, the cryptocurrency exchange of the Winklevoss twins. According to a statement by Gemini CEO Tyler Winklevoss, the partnership will provide Gemini access to Nasdaq’s surveillance technology to protect its fair and “rules-based marketplace”.