Nasdaq Recently Hosted a Closed-Door Meeting Regarding Cryptocurrency Regulations

Julien GONG Min / Flickr

Nasdaq reportedly hosted a closed-door meeting last week in Chicago that included representatives from about half a dozen companies, including Gemini and other cryptocurrency exchanges. According to reports from Bloomberg, the focus of the gathering was to encourage the industry to work toward improving the image of cryptocurrency by validating its potential role in global markets.

The topics discussed reportedly ranged from the implications of future regulations to choosing what tools or means of surveillance will be necessary moving forward.

Earlier this year, Gemini employed Nasdaq to conduct market surveillance of Bitcoin and Ether trading. Nasdaq CEO Adena Friedman has been outspoken about the need for regulations and has recently partnered with various exchanges to aid in solving several emerging issues regarding the policing of the volatile industry.

Nasdaq currently supplies technology to five cryptocurrency exchanges, including Gemini and SBI Virtual Currencies.

The spokesperson who disclosed information regarding the meeting stated that an ongoing dialogue regarding cryptocurrency has begun with a focus on mitigating theft, fraud, and illiquidity.

Prior reports have shown that the Justice Department opened a criminal probe regarding whether cryptocurrency traders manipulate the price of Bitcoin and other digital currencies. At this time, the Nasdaq representatives state that the lack of custody services is concerning considering how slowly Wall Street is moving into the space.

Gemini has not responded to a request to comment, but a Nasdaq spokesman has confirmed that the event took place.

More: Nasdaq Holds Closed Door Event to Discuss Policing Crypto
Photo: Julien GONG Min / Flickr
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