The company’s executive vice president, Tal Cohen, said Nasdaq, the US stock exchange, has no immediate plans to launch a cryptocurrency exchange until there is better regulatory clarity from policy makers.
In an interview with Bloomberg, Cohen said that the retail side of the cryptocurrency market is quite saturated and that there are enough cryptocurrency exchanges to cater to retail investors. He added that his company will continue to focus on the cryptocurrency custodian services that were launched on September 20.
Cohen also shed some light on other crypto-related services that the exchange is working on, which is building execution capabilities on the platform for asset transfers and transfers.
The world’s second largest exchange may be reluctant to launch a crypto exchange in the US, but the company partnered with Brazil’s leading brokerage provider XP to launch the same crypto exchange last year.
The cryptocurrency market has gone through another price cycle like clockwork, but politicians in the US have yet to provide a clear framework for bringing the cryptocurrency markets into law.
US The Securities and Exchange Commission (SEC), headed by Gary Gensler, has been quite vocal about emerging market weaknesses. However, despite numerous calls from Congress for clearer regulations, the United States has not made much progress on the regulatory front.
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The Securities and Exchange Commission (SEC) continued its enforcement action against crypto companies and expanded its crypto enforcement team earlier this year. As a result of increased enforcement efforts despite a lack of regulatory clarity, Senator Bill Haggerty, a member of the Senate Banking Committee, introduced legislation seeking a safe haven for crypto exchanges from “certain” enforcement actions in the SEC.
The lack of regulations not only prevents well-known players like Nasdaq from entering the space, but even the crypto platforms in the country have suffered from time to time due to enforcement actions and fines.