The SEC crackdown on the crypto industry in the US is not discouraging people from the economic side of the digital revolution, as a wall street backed new exchange has just entered with a bang. Its name is EDX Markets.

All About EDXM Crypto Exchange

     Jamil Nazarali, a former Citadel executive, founded EDX Markets on September 2022, entered digital assets on June 20, 2023. It claims to be non-custodial and able to operate with a central counterparty, which is why it is attracting more people. The addition of a facility called EDX Clearing has also been announced for the purpose of settling trades executed on the platform.

Welcome to Wall Street

     EDX Markets partnered with Wall Street before its launch. Wall Street, which considers the crypto industry its rival and a stealer of their investment, is taking the opposite approach towards EDX Markets. This new crypto platform is receiving support from many Wall Street giants like Citadel Securities, Charles Schwab, Fidelity Investments, Paradigm, Hudson River Trading, etc. 

Preparing to deal with the SEC

     EDX Markets hasn't revealed how it will deal with the Securities and Exchange Commission (SEC), but it appears that EDX Markets has started by setting its own limits. Right now, only four cryptocurrencies are supported on the platform: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH); the SEC has dodged the question of keeping those under the ambit of securities, so there is no clear stand from the SEC on this. However, many crypto analysis thinks this was already planned.