Nasdaq Delays Planned To Open Crypto Services

Nasdaq has postponed the launch of its crypto service. (Photo; Doc. Cryptodoylyuzette)

JAKARTA - Adena Friedman, CEO of Nasdaq, an international stock exchange, has announced the postponement of the company's plans to provide cryptocurrency storage services. This decision was taken due to the influence of the "regulation environment" in the United States.

Initially, Nasdaq planned to launch a crypto asset storage service in the last quarter. However, in a second-quarter earnings call, CEO Adena Friedman revealed that the project had been temporarily suspended.

Friedman stated that considerations for business shifts and regulatory pressures in the United States have led companies to decide to postpone the launch of the US digital asset custodian business and related efforts to obtain relevant licenses.

Although cryptocurrency storage plans have been postponed, Friedman stressed that Nasdaq remains focused on developing technology and providing digital asset software solutions. The company wants to be a leading solution provider for the global digital asset industry.

Currently, regulatory pressures are increasing in the US crypto market. The US Securities and Exchange Commission (SEC) has taken action against several crypto companies suspected of violating securities law. A total of 66 digital assets worth more than 98 billion US dollars (approximately IDR 1.4 quadrillion) have been categorized as securities by US regulators.

This action has led some businesses such as Bakkt, Etoro, and Robinhood to remove some cryptocurrencies from their platforms. However, after Ripple Labs and XRP won cases related to programmed sales, several exchanges have decided to re-registered XRP.

This changing regulatory situation affects the crypto industry as a whole, and companies like Nasdaq must be careful and monitor regulatory developments before launching a new crypto service in the United States.