According to a Bloomberg report, Nasdaq, the exchange operator, has announced that it is halting the launch of its crypto custodian business in the United States due to a shifting business and regulatory environment.
Nasdaq’s Crypto Plans On Ice
The announcement comes as a surprise as the company previously announced plans to offer custody services for Bitcoin and Ether for institutional investors. The exchange operator had planned to launch the service by the end of the second quarter but now says it will no longer pursue a license related to the business.
Nasdaq’s decision to halt its digital-asset custodian business is a reflection of the rapidly evolving regulatory environment surrounding crypto. The company cited the changing business and regulatory environment as the reason for its decision, indicating that it wants to ensure that it is well-positioned to navigate this complex landscape.
One of the biggest regulatory concerns surrounding crypto is the potential for market m
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