The world of the criptomonedas seem to be waiting for with great anticipation to the legislators of the united States finally implement a regulatory framework integral.
The long-awaited deployment of regulations cryptography in the united States could be the catalyst to drive the next wave of adoption institutional. Until now, financial institutions have been wary of the kind of assets due to regulatory uncertainty, especially in the united States.
However, when Congress finally be able to agree on how to address digital assets without crushing completely the innovation, it could give the green light to the greatest players in the world of finance and investment.
Nasdaq waiting on the sidelines
One of these major players is the multinational corporation american financial services, and owner and operator of three stock exchanges, Nasdaq Inc.
On 5 October, Bloomberg reported that Nasdaq is waiting for greater clarity on regulatory with respect to the exchange of encryption before launching his own. The executive vice president and director of the North American markets, As Cohen, said to the media that “those are discussions that we are pleased to have” with respect to the expansion of its services of digital assets.
He added that the market is “quite busy” in the hand retailer, the company will continue to focus on their services criptocustodia that they still have “a high demand and opportunities”. Hinting at a greater expansion, he added:
“We believe that if you can protect the assets of the people, they will trust you to do everything else later.”
In addition to custody services, Nasdaq will also work on the creation of skills to facilitate the movement and transfer crypto. Last month, Nasdaq hired the former chief of intermediary services main Gemini, Ira Auerbach, to direct his new unit of digital assets . This unit will begin offering custody services for institutional for Bitcoin and Ethereum .
The CEO of CryptoQuant, Ki, Young-Ju, also believes that the institutions will drive the next upturn in the market that shows a chart indicating possible points of entry solids for institutional investors.
Biden urges the criptoaceleración
Back to the regulations of the Uncle Sam; At the beginning of this week, the administration, Biden urged Congress to expedite the deployment of a regulatory framework.
A report of the Supervisory Board of the Financial Stability of the united States (FSOC, for its acronym in English) urged lawmakers to come to an agreement and work in the inter-institutional cooperation.
The group, headed by the secretary of the Treasury, Janet Yellen, recommended to drive in two major efforts of regulation of criptomonedas. The first is a bill that sets rules for issuers of stable currencies , and the second is a law that puts the Commission on Trade commodity Futures (CFTC) oversees the criptomercados cash.
If approved, both sets of laws would be beneficial for the adoption of institutional and retail, and it's only a matter of time until you have something solid on the table.
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