The post Nasdaq Drops Plans for a Crypto Custody Service, CEO Says appeared first on Coinpedia Fintech News
Nasdaq has announced that it has abandoned its plans for a cryptocurrency custody service that had been scheduled to launch this quarter. CEO Adena Friedman disclosed the decision during an earnings call, stating that the infrastructure and regulatory approvals had not been successfully put in place. In March, the firm sought approval from the New York Department of Financial Services for a limited-purpose trust company to manage the service. The cancellation of the scheme represents a setback for the institutional adoption of cryptocurrencies in the US, which has seen raised regulatory scrutiny in recent months.
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