Nasdaq’s Plan to Validate Cryptocurrencies
Last week marked another new moment in the growth of the cryptocurrency market as Nasdaq brought together a round table of sorts, hosting a closed-doored and highly secretive meeting in Chicago.
As first reported by Bloomberg, this exclusive meeting was held on July 27th, 2018, and called upon representatives from half a dozen cryptocurrency companies, along with traditional exchanges. Among those in attendance were Cameron and Tyler Winklevoss, the co-founders of the Gemini exchange, who have just recently had their application for a Bitcoin ETF rejected by the United States Securities and Exchange Commission.
The path to legitimizing cryptocurrencies has been well documented, as unscrupulous characters and fraudulent ICO’s creep into the space more frequently than one would desire, however, Nasdaq might very well have an idea of how to grow the industry into a viable and legitimate option and that was the subject of last week’s meeting.
While the group gathered to discuss the regulatory future of cryptocurrencies and what technologies may be necessary in order to create a regulated security tokens market, Nasdaq CEO Adena Friedman has already embraced the digital economy, taking an innovative stance towards the cryptocurrency industry.
Back in May, Friedman made a statement during a CNN podcast on the growing market, saying:
“How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy.”
Although the space has not fully matured, it is important to note that even Wall Street has been coming around to the thought of adopting cryptocurrencies as legitimate digital assets, and this most recent Nasdaq meeting lends credence to the idea that crypto assets will be the inevitable future of currency.
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