Nasdaq needs clear legal regulation to launch a crypto exchange

Tal Cohen, executive vice president at Nasdaq, said that the U.S. stock exchange does not plan to launch a cryptocurrency exchange anytime soon. Legal regulation of the issue by policymakers needs to be determined first.

Cohen said in an interview with Bloomberg news agency that the retail sector of cryptocurrency exchanges can meet the needs of small investors due to the existence of a sufficient number of cryptocurrency exchanges. executive vice president of Nasdaq specified that the company will continue to focus on cryptocurrency storage services, which were launched on September 20.

The cryptocurrency market has gone through another price cycle like clockwork, but politicians in the United States have yet to offer a clear framework for cryptocurrency markets to fall under.

The nascent cryptocurrency market has a number of vulnerabilities, according to the U.S. Securities and Exchange Commission, which is headed by Gary Gensler. However, despite numerous calls from Congress for a clearer regulatory framework, the U.S. has not moved forward.

The lack of regulation not only prevents established players such as Nasdaq from entering the market, but also creates difficulties with disciplinary measures and fines for already existing cryptocurrency platforms.