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Author Topic: [2018-04-26] Nasdaq CEO Says Company ‘Open’ To Becoming Crypto Trading Platform  (Read 19 times)
nickbelski
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April 26, 2018, 05:53:03 AM
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Nasdaq CEO Says Company ‘Open’ To Becoming Crypto Trading Platform When Market Matures

The CEO of Nasdaq said that the stock market could become a platform for trading cryptocurrencies in the future, if the market becomes more regulated, CNBC’s Squawk Box  reports Wednesday, April 25.

Nasdaq CEO Adena Friedman said during an interview that “certainly Nasdaq would considering become a crypto exchange over time.” Friedman believes that cryptocurrencies “will continue to persist,” the only caveat being the amount of time it will take for the crypto sphere to mature. Once that kind of institutional regulations set in, according to Friedman, Nasdaq can say:

“‘It's time, people are ready for a more regulated market, for something that provides a fair experience for investors."

Nasdaq has already entered the crypto sphere, as earlier today the stock exchange and the Gemini crypto exchange owned by tech investors the Winklevoss twins announced a partnership. Gemini will be able to use the Nasdaq’s SMARTS Market Surveillance Technology to alert the exchange to suspicious trade behavior, potentially preventing market manipulation.

Friedman also told NBC that she considers Initial Coin Offerings (ICO) to be securities, a point much debated in the crypto world:

"ICOs need to be regulated. The SEC is right that those are securities and need to be regulated as such.”

The US Securities and Exchange Commission (SEC) launched a cryptocurrency probe earlier this year. The SEC and the Commodity Futures Trading Commission (CFTC) had also held a cryptocurrency hearing that concluded that while ICOs needed stricter regulations, cryptocurrencies needed smart policies to promote innovation.

Source: https://cointelegraph.com/news/nasdaq-ceo-says-company-open-to-becoming-crypto-trading-platform-when-market-matures

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April 26, 2018, 07:56:18 AM
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Well this will solve one of the SEC's concerns that global Bitcoin markets are being artificially manipulated by scrupulous exchanges. They can now peg the Bitcoin price for Bitcoin Futures to the Nasdaq price only to reduce that impact. I can see no reason why Bitcoin Futures cannot be  approved now.

Looking forward to see how this is going to play out in the end. Say "Hello" to $50 000/BTC soon if this is approved.  Grin The institutional capital will make a huge difference in the price.

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April 26, 2018, 08:06:10 AM
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This is just amazing news! I am absolutely sure that many of cryptocurrency exchanges are simply not competitive, if the NASDAQ really start trading cryptocurrencies.  This is especially important news for institutional investors!
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