Backtracking: Nasdaq Halts Plans to Launch Its Own Crypto Custody Service

Backtracking: Nasdaq Halts Plans to Launch Its Own Crypto Custody Service

Nasdaq, the second largest stock exchange in the United States, indefinitely deferring plans to launch its own cryptocurrency custodial service.

Cryptocurrencies. Nasdaq CEO Adena Friedman reported Wednesday that the project has been halted due to current regulatory uncertainty in the United States.

Nasdaq will not have a crypto custody service. The giant stock market will not launch its cryptocurrency custody service this quarter as planned and the cause is because they considered the regulatory environment uncertain in the US.

The service, which would be aimed at institutional clients, was scheduled to go live in the second quarter of the year. This had been revealed in March and rumors indicated September as a tentative date.

The CEO of Nasdaq, Adena Friedmannreported this Wednesday that the project halted due to current regulatory uncertainty in the United States.

“This quarter, given the changing business and regulatory environment in the United States, we have made the decision to halt our launch of the US digital asset custody business and related licensing efforts.” Friedman said.


Source: Ambito

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