The global stock exchange Nasdaq has halted the launch of its cryptocurrency portfolio which it had previously planned to launch by the end of the second quarter of 2023.
Nasdaq has suspended the launch of its digital asset custody business due to regulatory risks, CEO Adena Friedman said announce During the second quarter results call.
Friedman noted that NASDAQ remains committed to developing the digital asset business. The company will closely monitor the market for potential regulatory events over the next six months.
Nasdaq initially announced its cryptocurrency custody project in September 2022. The company was planning to launch an official division that would allow customers to securely store Bitcoin (BTC) and Ether (ETH).
As of March 2023, the company was moving forward with the plan, aiming to launch the platform by the end of July.
The news comes as major cryptocurrency firms are also working to list bitcoin exchange-traded funds (ETFs) on Nasdaq. The US Securities and Exchange Commission is currently considering two immediate Bitcoin ETF proposals under Nasdaq Rule 5711.
This is a developing story, and more information will be added as it becomes available.
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