The CEO of Nasdaq said that the stock exchange could become a platform for trading digital currencies like bitcoin if the market becomes more regulated.
In an interview with CNBC’s Squawk Box on Wednesday, Nasdaq CEO Adena Friedman said that “Certainly Nasdaq would consider becoming a crypto exchange over time,“. Adena believes that Digital currencies “will continue to persist,” but will take time for the crypto sphere to mature.
According to the CEO, the only hindrance for the Nasdaq and other institutional investors to dive into cryptocurrency trading is regulation. Adena said Nasdaq is open to becoming a cryptocurrency exchange in a regulated market. Notably, she added:
“Over time though, if we do look at it and say people are ready for a more regulated market for something that provides a fair experience for investors, certainly Nasdaq would consider becoming a crypto exchange, over time.”
Nasdaq is supporting existing crypto exchanges
Nasdaq has already entered the cryptocurrency Circles, on Wednesday, the stock exchange announced their partnership with Gemini crypto exchange owned by the famous Winklevoss twins. Gemini will be able to utilize the Nasdaq’s SMARTS Market Surveillance Technology to alert the Crypto exchange to suspicious trade behavior, potentially preventing market manipulation.
Adena also told NBC that she perceives ICOs to be securities, a topic that has sparked off considerable debate in crypto circles. Notably, she said
“ICOs need to be regulated. The SEC is right that those are securities and need to be regulated as such.”
The US Security and Exchange Commission (SEC) has clamped down on Initial coin offerings in 2018 and launched a cryptocurrency probe earlier this year. The SEC and the Commodity Futures Trading Commission (CFTC) had also held a Joint cryptocurrency hearing that concluded that while Initial Coin Offerings needed tighter regulations, digital currencies needed smart policies to foster innovation.