The Nasdaq Stock Exchange Could Become a Cryptocurrency Exchange

Once regulations are streamlined and the financial space matures, Nasdaq will consider trading digital currencies, says exchange CEO Adena Friedman.

A key hurdle for Nasdaq and other institutional investors is regulation, which Friedman said needs to be in order before the exchange can list cryptocurrencies. “I believe that digital currencies have a future. The only question is how long it will take for the space to mature,” says Friedman. 

The Nasdaq Exchange currently supports existing digital exchanges. On Wednesday, it announced a partnership with the Gemini exchange, founded by early bitcoin investors Tyler and Cameron Winklows. This collaboration will allow Gemini to have access to Nasdaq's technical surveillance capabilities, which will ensure a transparent and regulated market relationship between the exchange and its clients.

While Friedman believes in the future of cryptocurrencies, she is less optimistic about raising funds through ICOs.

“ICOs need to be regulated. The Securities and Exchange Commission rightly considers ICOs to be securities that should be subject to the appropriate rules of law.”

The US Securities and Exchange Commission banned ICOs in 2018 and said in March that it intends to apply securities laws to cryptocurrency exchanges and cryptocurrency wallets. SEC Chairman Jay Clayton said the Commission devotes a significant portion of its resources to the ICO market.

According to https://www.cnbc.com