In a significant development one of the world’s largest exchanges Nasdaq has announced the suspension of its crypto custody operations in the United States. This decision was made public by the company’s CEO during the presentation of the second-quarter earnings report.
The exchange operator has taken a step back in its digital asset custody work as it referred to the need to obtain specific licenses before proceeding . Nasdaq has decided to stop its operations in the USA until the necessary licenses are acquired . Nasdaq aims to guarantee compliance with regulatory requirements.
Nasdaq’s Ongoing Support for Crypto Efforts
Despite the temporary halt in its crypto custody operations Nasdaq remains committed to supporting crypto-related enterprises particularly in the realm of ETFs . According to reports from Bloomberg Nasda’q will continue to contribute to the development of the digital asset ecosystem and keep exploring various avenues for involvement and collaboration. This includes partnerships with ETF issuers too.
Nasdaq’s CEO Affirms Commitment to the Digital Asset World
Nasdaq’s CEO Adena Friedman put an emphasis on their commitment to contributing to the advancement of the digital asset world . In a statement Friedman stressed their commitment to exploring multiple pathways including partnerships with ETF issuers in order to encourage the growth and innovation of the digital asset ecosystem.
Nasdaq’s decision to halt its crypto custody operations in the US may appear as a temporary setback in the context of the growing interest in cryptocurrencies . However it is worth mentioning that the exchange remains actively engaged in supporting the crypto space through various mediums including collaborations with ETF issuers .
Nasdaq’s commitment to the development of the digital asset ecosystem signals its long term vision and recognition of the transformative potential of cryptocurrencies. While the pause in custody operations is a notable development it is expected that Nasdaq will return its efforts in the crypto space once the needed licenses are obtained . Ultimately it aims to reaffirms its position as a key player in the global financial landscape.