Nasdaq Suspends Crypto Custody Launch: 100x Potential Buy Now!
• Nasdaq announced to launch crypto custody services before the end of Q2, 2023.
• However, due to shifting business and regulatory environment in the United States, the launch has been suspended.
• Despite suspending the launch of its own crypto custody services, Nasdaq remains committed to digital asset business development.
Nasdaq Plans Suspended
Nasdaq had announced it will launch the crypto custody services before the end of Q2, 2023. The global securities marketplace has however suspended launching the services due to a shifting business and regulatory environment in the United States. CEO Adena Friedman confirmed that Nasdaq has postponed its U.S. digital asset custodian business and related efforts citing potential license issues as a reason for suspension.
Nasdaq Still Committed to Cryptocurrencies
Despite suspending the launch of its own crypto custody services, Nasdaq emphasized its commitment to digital asset business development by advancing their custodial solutions as a technology platform for broader global industry use.CEO Adena Friedman reassured customers that Nasdaq is monitoring market events for regulatory developments in coming months.
Valkyrie Spot Bitcoin ETF Application Approved By SEC
The news comes as major crypto-affiliated companies resubmit their spot Bitcoin exchange-traded funds (ETF) applications with the SEC which have mostly been approved so far including most recently Valkyrie Spot Bitcoin ETF application . All firms planning to issue BTC ETFs are working on listing them on the Nasdaq exchange when approved by SEC.
SEC To Determine Future Of Bitcoin ETFs
The Securities and Exchange Commission (SEC) is expected to go through all resubmitted applications from cryptocurrency companies and determine whether or not they should be approved or rejected in order for them to list their BTC ETFs on Nasdaq exchange when approved by SEC.
In conclusion, despite suspending plans of launching its own cryptocurrency custody services due to shifting regulations in US, Nasdaq still remains committed towards advancing digital assets software solutions provider globally while monitoring future changes in regulations closely as major crypto-affiliated companies plan on listing their respective BTC ETFs with SEC approval on Nasdaq exchange when available.