NASDAQ, the second largest exchange by market capitalization, has had a few run-ins with cryptocurrencies. After CME and CBOE listed Bitcoin futures on their platforms, NASDAQ was keen to follow suit. However, its plan to add Bitcoin futures contracts to the platform was abandoned soon after. Now rumors say the platform is seeking to take a direct inroad into cryptocurrencies by adding digital assets alongside public company stocks, as reported by The ICO Journal.
There Is a Lot of Crypto Pioneering to Be Done
As Bitcoin and cryptocurrencies are still in the early stages of being classified as an asset, there is scope for many more pioneers in this sector. NASDAQ could be eyeing the opportunity to do so.
If the exchange successfully manages to do so, then it will be the first traditional exchange to offer trading services in digital currencies to users. NASDAQ may be attempting to stay at the forefront of crypto adoption, helping institutions execute orders more effectively and offer better governance. Not only this, but the exchange is expected to ride solo. The exchange is known to be tech-savvy and very aggressive, which makes its foray into digital currencies highly possible.
Details Remain Unknown
The details of the plan remain unknown, but The ICO Journal claims that its unnamed sources say the emphasis is on listing Bitcoin and Ethereum on the exchange.
The unidentified “NASDAQ source” passed on a note that reads:
“The conversation around listing coins has centered on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3–6 months. Even with the longest of time frames assumed, some guidance will be provided, and I expect we will act quickly. The framework (two different sets of framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.”
Though there nothing to see currently on the outside, NASDAQ could be gaining momentum behind the scenes, and it’s possible they could launch the digital currencies on its exchange when there is more regulatory clarity.
Is NASDAQ Working to List Cryptocurrencies on Its Exchange? was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.