CryptoNews: Nasdaq has abandoned plans for a Crypto custody service, according to CEO Adena Friedman. 🚀
ETF proposal, which was submitted last month, called for Nasdaq to join with it as the listing exchange.
This decision by Nasdaq is a setback for institutional adoption of cryptocurrency in the United States, where regulators appear to be pursuing crypto businesses and related services, raising worries that such firms may leave for more welcoming jurisdictions. Publicly listed companies must record their obligations as liabilities on their own balance sheets in order to engage in crypto custody, which is a difficult barrier set up by the US Securities and Exchange Commission.Related Articles
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