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NASDAQ Wants to Legitimize Cryptocurrencies

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Apparently, the NASDAQ wants to legitimize cryptocurrency.

Over the last few days, the exchange held closed-door meetings with several key players to make that happen. In May 2018, NASDAQ CEO Adena Friedman noted that the exchange was investigating the idea of crypto futures. However, before doing so, she wants to make sure the correct protocols are in place.

According to Bloomberg, the meeting was held with representatives of “about half a dozen” groups. These groups included Gemini and other cryptocurrency exchanges. Among topics discussed included future regulation, what the necessary tools are, and what surveillance will be needed.

The CEO also insisted that cryptocurrecnies are “active agents of change and her company will accept this revolution,” according to BTC Manager.

“We see technology as a relentless change agent and our job is to embrace that change, to bring it to the industry, and make it so that our industry continues to be a very successful industry in the next decade or even beyond that,” she says.

Friedman also believes that integrating blockchain technology into financial systems would help reduce costs and risks in operations. “There are a lot of exciting things in the machine intelligence space. There are a lot of exciting things in the trading space. [Blockchain technology] takes a lot of risk out of the system and therefore it makes it so that the banks don’t have to be as capital intensive. And that’s a big incentive.”

NASDAQ Believes in a Crypto Exchange

Most exciting is the fact that she and her colleagues are optimistic of a crypto future.

In April 2018, the CEO said the NASDAQ was open to becoming a crypto exchange with trading coins, like Bitcoin. “Certainly NASDAQ would consider becoming a crypto exchange over time. If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors,” she says.

Such a move would could legitimize cryptocurrencies even more. Additionally, it could open the floodgates to money flow in popular coins.

 

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