Nasdaq, a global securities marketplace, has stopped the unveiling of its own cryptocurrency. The plan was to introduce it at the second quarter’s end of 2023, as stated by Cointelegraph.
According to Cointelegraph, the launch didn’t go through due to United States-based regulatory concerns. “This quarter, considering the shifting business and regulatory environment in the United States, we have made the decision to halt our launch of the US digital assets custodian business and our related efforts to pursue relevant license,” Adena Friedman, CEO, Nasdaq, stated.
“We continue to build and deliver technology capabilities that position Nasdaq as a leading digital assets software solutions provider to the broader global industry. This includes advancing our custody solution as a technology platform to serve the broader, global digital assets marketplace,” Friedman added.
Based on Cointelegraph’s data, Friedman emphasised on how Nasdaq will look at the market for possible regulatory updates in the next couple of months. Reportedly, Nasdaq initially spoke about its crypto custody infrastructure in September, 2022. It’s believed that the platform had intended to inaugurate an official segment, to permit Bitcoin and Ether storage.
Moreover, Cointelegraph noted that with regard to March, 2023, the company was proceeding with the objective, for a launch to happen by July end.
(With insights from Cointelegraph)