Description:
This content discusses Nasdaq Inc.’s decision to pause its plans to launch cryptocurrency custody services due to the shifting business and regulatory environment in the United States. It also addresses the criticism from industry leaders, such as Coinbase’s CEO Brian Armstrong and Circle’s boss Jeremy Allaire, towards American regulators and their approach towards the digital asset industry.
Main Points:
– Nasdaq Inc. has decided to delay the launch of its cryptocurrency custody services due to the changing business and regulatory conditions in the US.
– The CEO of Nasdaq, Adena Friedman, mentioned that they will not pursue the US digital asset custodian business and will focus on other technology capabilities.
– Nasdaq remains committed to supporting the evolution of the digital asset ecosystem through engagement with regulators, the delivery of comprehensive technology solutions, and partnerships with potential EF issuers.
– Coinbase’s CEO Brian Armstrong and Circle’s boss Jeremy Allaire have criticized American regulators for their approach towards the digital asset industry, fearing it could push investors and capital abroad.
Hot Take:
Nasdaq’s decision to pause its cryptocurrency custody services reflects the challenges and uncertainties posed by the regulatory environment in the US. The criticism from industry leaders highlights the need for clearer and more favorable regulations to foster innovation and investment in the digital asset industry. It remains to be seen how regulators will adapt to this rapidly evolving space.
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