The NASDAQ Stock Market, the famous American Stock exchange, is thinking about opening a cryptocurrency exchange for investors. The second largest exchange in the world by market capitalization could start to operate a crypto exchange in the future. The information has been revealed by Adena Friedman, Nasdaq Inc. CEO while talking with CNBC.
Nasdaq Could Open a Cryptocurrency Exchange
One of the most important stock exchanges in the world could start operating a virtual currency exchange once the crytpto market matures and regulations start smoothing out.
Adena Friedman, commented about that:
“Certainly Nasdaq would consider becoming a crypto exchange over time. If we do look at it and say “it’s time, people are ready for a more regulated market,” for something that provides a fair experience for investors.”
It is very important for institutional investors that are trying to get into the cryptocurrency market and don’t find regulated institutions to do so. Most of the virtual currencies are unregulated and do not provide the regulatory standards that institutional and traditional investors are searching for.
Joseph Weinberg, OECD Think Tank Special Advisor & Shyft Chairman said:
“There’s a division right now between crypto marketplaces and security token exchanges. However, because it’s all within the same asset class, a proper exchange should be both. Like the derivatives market, it’s highly complex.”
At the same time, Mr Weinberg explains that if Nasdaq becomes a crypto exchange that would be very positive for the crypto community in general.
Nasdaq is already working with other crypto exchanges in the environment. For example, it has signed a partnership with the trading platform Gemini. In this way, the Winklevoss exchange has access to Nasdaq’s surveillance technology enabled. This would ensure that exchanges offer a fair market trading.
Furthermore, Adena Friedman explained that ICOs should be properly regulated. For her, the position that the Securities and Exchange Commission is taking towards cryptocurrencies and Initial Coin Offerings is very positive and correct.
If Nasdaq decides to open a crypto exchange institutional investors could be ready to place their money in the crypto market, generating pressure on the prices to go up.