Report: Sources Indicate Nasdaq Plans to List Multiple Cryptocurrencies in 2019
According to a breaking report by The ICO Journal, which cites a “trusted Nasdaq source” familiar with the matter, the financial giant is making a concerted effort to push forward listings of many notable cryptocurrencies, including Bitcoin and Ethereum.
EXCLUSIVE: NASDAQ SOURCE: “The listing of several coins will happen in 2019…” https://t.co/CUYR1EPgnU
— Andrew Parish (@APCynic) August 29, 2018
The insider reveals that a major focus with Nasdaq has been taking the regulatory steps necessary to list cryptocurrencies on their exchange.
The conversation around listing coins has centered on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3-6 months.
Given its regulatory assessment, Nasdaq has already kicked off plans to create a separate listing and trading system for digital assets, noted the insider.
The framework (two different sets of framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.
Nasdaq reportedly hosted a closed-door meeting last month in Chicago that included representatives from about half a dozen companies, including Gemini and other cryptocurrency exchanges. According to reports by 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 ICO Journal report further asserts that these meetings include more actionable outcomes, as indicated by a separate source inside Gemini.
They are getting very comfortable with the structures they’ve seen from Gemini, and the other research they’ve done with exchanges of note. There is a timeline forming for this decision and it could be earlier than some might think.
Neither Nasdaq or Gemini have come outright to state that there are any immediate plans to pursue cryptocurrency listings on the Nasdaq exchange, but if accurate, these reports indicate it may come sooner than most think.
Photo: Julien GONG Min / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.