NASDAQ Inc. has just reported positive quarterly earnings, and amidst the success streak, the CEO of the company expressed her interest to turn the organization into a cryptocurrency exchange in the future.
The majority of the governments around the world are taking strict action against cryptocurrencies to stop them from being used in illegal websites and to transact money without notifying banks.
A part of the government and other agencies are still aware of the advantages of using a digital currency, which can overcome borderline hurdles and exchange rate issues so that it is easier to do transactions using Bitcoin or any similar currency.
Friedman is Confident of a Cryptocurrency Exchange
NASDAQ CEO Adena Friedman said in a press interview that the company would certainly consider becoming a cryptocurrency exchange.
In order to make this possible, she further added that such a venture can happen only if people dealing with currency are interested in adopting a more regulated market and the legal issues pertaining to the same is sorted out by the government.
Friedman, on a confident note, said that while the current situation may not be so favorable for Bitcoin or the dozens of other coins being used in the market, the scenario might eventually change one day.
Similar to several other technological advancements that were met with strong criticism, cryptocurrency is a digital market which is further evolving just like how the internet and smartphones changed the global market forever.
Regulations Are Mandatory
The government’s involvement in the world of digital currencies intimidated a lot of its users as they feared their privacy would be curbed if banks became involved in it.
While it may sound justified from the perspective of early adopters, others argue that digital currency should be regulated so that it enters a stable environment and doesn’t spike or fall as Bitcoin did in the past few months.
Friedman said that NASDAQ would definitely show interest in this new market and when the space is mature enough to have legal entrants taking part in it, the company would take the plunge.
NASDAQ’s Cryptocurrency Venture
The company has already partnered with investment marketplace Reality Shares. Eric Ervin, the CEO of Reality Shares, commented that Friedman would easily score a 6 out of 10 if rated on her interest in the cryptocurrency market.
NASDAQ has also partnered with Gemini. The digital asset platform was founded by the Winklevoss twins, who are identified as the creators of the Facebook concept. They later got a settlement from Mark Zuckerberg and used the payout to establish themselves as top venture capitalists in the crypto industry.
The idea behind these partnerships is to allow NASDAQ to work in a rule-based marketplace where they can treat cryptocurrency as a legal commodity and push further investments on it.
When the market takes off, all major players are expected to join the fray. Friedman is expected to give her assurance to the U.S. Securities and Exchange Commission—which is looking to apply securities laws to the crypto industry—on the legitimacy of cryptocurrency when the time comes to push NASDAQ into the game.