Stock exchange Nasdaq takes first step towards offering crypto

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Stock exchange Nasdaq takes first step towards offering crypto

The famous stock exchange Nasdaq will take the first steps this summer to offer cryptocurrencies. Initially, it is still about managing customers’ crypto assets. At a later date, the stock exchange also wants to facilitate crypto trading.

The famous stock exchange Nasdaq will take the first steps this summer to offer cryptocurrencies. Initially, it is still about managing customers’ crypto assets. At a later date, the stock exchange also wants to facilitate crypto trading. (ANP/SIPA USA)

The offering of the crypto management service is expected to start in the second quarter of this year. Managing crypto will only be done with cryptocurrencies bitcoin and ethereum for the time being. There are still steps to be taken, said Ira Auerbach, senior vice president of Nasdaq and head of digital assets at the stock exchange. He told Bloomberg that Nasdaq is doing its best “to get all the necessary technical infrastructure and regulatory approvals in place.”

Great uncertainty

Nasdaq’s move comes at a striking time as the financial sector, especially the banking world, is in deep uncertainty. The fall last year of one of the world’s largest crypto trading exchanges FTX contributed to the collapse of bank Silvergate last month.

In addition, the financial regulator SEC opened an attack on crypto exchanges such as Coinbase and Binance last week. According to the watchdog, trading cryptocurrencies is equivalent to trading securities, such as shares. A registration must then be required for this, according to the SEC.


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