Nasdaq CEO opens up about cryptocurrency market saying that the stock market could become a platform for trading cryptocurrencies in the future, if the market becomes more regulated, according to CNBC’s Squawk Box reports on Wednesday, April 25.
Adena Friedman the Nasdaq CEO said
during an interview, “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.
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