NASDAQ has put the Securities and Exchange Commission (SEC) into a “level playing field” for various cryptocurrency venues, including national stock exchanges, as regulators work to overhaul rules for digital assets. I’m asking you to create it.
According to a recent letter from Nasdaq, representatives of the exchange operator met with the SEC’s newly formed cryptographic task force last week to discuss the parity of the regulations. The company said that all trading venues must allow trade of both digital asset securities and non-security digital assets, whether through exchanges, broker-dealers or alternative trading systems. NASDAQ also asked the SEC to set a clear deadline for temporary relief granted to existing crypto trading platforms.
The exchange has previously expressed interest in the crypto space and announced plans to launch a crypto custody platform in 2022. However, the initiative was shelved a year later due to the evolution of regulatory uncertainty. At the time, the Nasdaq also suggested that it could begin crypto exchanges depending on the regulatory environment and market conditions.
Nasdaq is not just promoting clarity in regulations. Representatives from other industries, including venture capital firms Andreesen Horowitz (A16Z) and Multicoin Capital, and the Blockchain Association, also met with the SEC’s Cryptographic Task Force last week to discuss the future of digital asset regulation.
*This is not investment advice.
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