New York Stock Exchange awaits clear regulations to offer cryptocurrencies
According to the president of the New York Stock Exchange, Lynn Martin, they are waiting for clear regulations on cryptocurrencies to be able to offer them
The president of the New York Stock Exchange, Lynn Martin, declared during the Consesus 2024 event held by the specialized media “CoinDesk”, that to offer cryptocurrencies they must wait for there to be clear rules and regulations on the matter.
According to Martin, “crypto assets would represent an opportunity to take into account,” but clarity in regulations is required from the government.
There are various obstacles around digital currencies that prevent the migration of traditional companies as well as the adoption of existing blockchain platforms to adapt to the current trend.
This was stated at the event’s round table by Tom Farley, CEO of the Bullish cryptocurrency exchange, stating that “the lack of regulation is also hindering innovation.”
He indicated that regulators will most likely force “traditional finance companies (TradFi) to develop private blockchains instead of using existing blockchains for their operations.”
Farley highlighted that the success of spot Bitcoin exchange-traded funds (ETFs) is a clear sign that there is demand for regulated crypto products.
There is a long way to go, however Donald Trump’s change in attitude towards Bitcoin could represent a boost to the increase in its adoption and pave the way in regulatory matters.
M.Pino
Source: bancaynegocios
(Reference image source: David Vives in Unsplash)
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