Announcing its plans to offer a crypto custody service in March, Nasdaq said it was halting its crypto custody plans due to regulatory pressure in the US.
Nasdaq’s crypto custody services were expected to go live in the second half of this year.
The statement came from CEO Adena Friedman. Speaking today, the CEO said they have suspended these plans due to regulatory pressure and uncertainties.
Stating that they will continue to support the crypto money ecosystem, Friedman emphasized that they are determined on this issue.
“We are committed to supporting the development of the digital asset ecosystem in various ways.”
While institutional investors are developing services for Bitcoin and cryptocurrencies to respond to the demand from the grassroots, the lack of legal clarity prevents these services from being implemented.
Regulators in the US are seriously harming the development of the industry by not introducing the “certainty” principle, one of the most fundamental principles of law, for cryptocurrencies.