World securities market Nasdaq is halting the launch of its personal cryptocurrency custody, which was initially scheduled to launch on the finish of Q2 2023.
Nasdaq has suspended the launch of its digital asset custody enterprise because of regulatory dangers, the corporate mentioned announced through the Q2 earnings name.
The corporate indicated that it stays dedicated to the enterprise growth of digital belongings. Nasdaq will likely be intently monitoring the marketplace for attainable regulatory occasions over the subsequent six months.
As beforehand reported, Nasdaq first introduced its crypto custody mission in September 2022. The corporate deliberate to launch an official division that might permit prospects to securely retailer Bitcoin (BTC) and Ether (ETH).
As of March 2023, the corporate has continued with the plan and goals to launch the platform by the tip of July.
The information comes as main cryptocurrency firms are additionally working to listing Bitcoin exchange-traded funds (ETFs) on the Nasdaq change. The U.S. Securities and Trade Fee is at the moment reviewing two spot bitcoin ETF proposals beneath Nasdaq Rule 5711.
That is an evolving story and extra data will likely be added because it turns into out there.
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