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CEO of Nasdaq Calls For Tighter Crypto Regulation
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CEO of Nasdaq Calls For Tighter Crypto Regulation

A report out by AtoZForex today suggests that the CEO of Nasdaq, the second largest stock exchange in the world, Adena Friedman, has called for tighter regulation on cryptocurrencies, before Nasdaq could consider entering the crypto-trading sphere. Friedman has said:
“It’s time, people are ready for a more regulated market, for something that provides a fair experience for investors”.
With one of the biggest stock markets in the world showing interest in cryptocurrencies, it is safe to say that news of the potential investment advantages of cryptocurrencies has now spread into the mainstream. Although, with Friedmans sentiment in mind, many big investors still fear the area, due to its lack of regulation. Although, many people will argue that the lack of regulation is what makes cryptocurrencies so exciting. According to AtoZForex:
“In fact, Nasdaq has already set its foot in the cryptocurrency market. Earlier this week, the US stock exchange along with the Gemini cryptocurrency exchange that is managed by the Winklevoss brothers have announced a partnership. It is known that Gemini will be utilizing the Nasdaq’s SMARTS Market Surveillance technology in order to warn the exchange about the possible suspicious trade behavior. This could prevent market manipulation.”
Perhaps Nasdaq are testing the water here, with the exchange already showing interest from other avenues, maybe Friedman’s comments have come in the wake of some sort of agreement within the Nasdaq community. We can’t confirm this yet, of course. Friedman’s main concern focuses around the risk presented by Initial Coin Offerings or ICO’s. As we know, ICO’s have sparked controversy of late because of regular scam and malicious activity taking place, masked as an ICO. It is a lack of regulation that means companies can earn a lot of money in a dishonest way through establishing an ICO. Friedman is calling for ICO regulation and believes the US Securities and Exchange Commission should be behind spearheading a movement to achieve this. The interest expressed by Nasdaq could suggest a number of things. Indeed Friedman is certain Nasdaq won’t have any involvement in cryptocurrencies until at the very least ICO’s are regulated. I believe though something deeper may be happening here, perhaps Nasdaq are already planning to suggest regulations to the SEC in the pursuit of controlling cryptocurrency markets within their respective areas. Or maybe I’m just speculating and Friedman really doesn’t have any intention of letting cryptocurrency lead Nasdaq astray until they can have some control over it. Featured Image Original Source: Pixabay

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Nathan Bentley

As a key writer for Crypto Daily, Nathan’s role entails the creation of cutting edge news articles, reviews, press releases and general content creation. Nathan’s stories strive to include the most up-to-date cryptocurrency news and affairs, contributing to Crypto Daily’s growing network. Nathans previous experience as a researcher ...

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