Nasdaq CEO Adena Friedman believes Initial Coin Offerings must be regulated. Her comments come as the stock market giant goes into a collaboration with cryptocurrency exchange Gemini.
The collaboration will allow Gemini to have access to Nasdaq’s surveillance technology. This will make Gemini’s marketplace fair, according to Gemini CEO Tyler Winklevoss.
Friedman took this opportunity to talk about her concerns regarding ICOs. She agreed with the US Securities and Exchange Commission that ICOs must be regulated.
Earlier this year, the SEC cracked down on frauds related to Initial Coin Offerings. It said that security laws should be applied to everything related to cryptocurrency trading. According to SEC Chairman Jay Clayton, the commission will use a “significant portion of resources” to watch the ICO market, CNBC reported.
ICOs need to be regulated.
Nasdaq has talked about the possibilities of it being involved in cryptocurrencies. Over time, the company is going to consider being a cryptocurrency exchange, Friedman said. She has, however, said that the company is going to wait until cryptocurrency becomes a regulated market and provides investors a fair experience.
Friedman, nevertheless, is pretty optimistic about the future of cryptocurrencies. She believes digital currencies are going to stay in the market. According to her, it is worth waiting to see how long it will take to mature.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]