Nasdaq, the world’s first and largest electronic stock exchange, announced that it is halting its crypto custody service plan due to US regulatory conditions.
In March, the operator of the Nasdaq exchange stated that it had combined the infrastructure and regulatory approval needed for a crypto custody service. The company’s CEO, Adena Friedman, just said that Nasdaq (NDAQ) is abandoning its plans for a crypto custody service scheduled to go live in the second quarter of this year. In addition, the firm had applied to the New York Department of Financial Services (NYDFS) for a limited purpose company to oversee the custody business.
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