Balances are Changing: Serious Crypto Call from Nasdaq to SEC!

Nasdaq, as the (SEC), the US Securities and Exchange Commission, attempts to review regulations for digital assets, it is calling for creating an "equal playing field" for various crypto trading venues, including national securities exchanges, while the regulatory agency revisits rules for digital assets.

According to a recent letter from Nasdaq, representatives from the stock exchange operator met with the SEC's newly formed crypto task force last week to discuss regulatory equality. The company stated that all trading venues, whether exchanges, broker-dealers, or alternative trading systems, should allow trading of both digital asset securities and non-securities digital assets. Nasdaq also called on the SEC to set a clear deadline for any temporary relief it may provide to existing crypto trading platforms.

The stock exchange had previously signaled interest in the cryptocurrency field and announced plans to launch a cryptocurrency custody platform in 2022. However, this venture was shelved a year later due to evolving regulatory uncertainties. At that time, Nasdaq also hinted at the possibility of opening a cryptocurrency exchange depending on regulatory environment and market conditions.

Nasdaq is not alone in pressuring for regulatory clarity. Venture capital firms Andreessen Horowitz (a16z) and Multicoin Capital, as well as other industry representatives including Blockchain Association, met with the SEC's crypto task force last week to discuss the future of digital asset regulations.