Nasdaq delays crypto custody service.

By TwoDogsCaged | TwoDogsCaged | 19 Jul 2023

I was not aware of Nasdaq's announcement in the spring of 2023 that they had plans to launch this type of service. It does not surprise me to find it out, as it appears to be a logical fit for Nasdaq to do so given their background.

With that said, here is an article that talks about the Nasdaq situation:

Personally, I am a bit disappointed in the decision from a selfish perspective. I mean, any good news that they would launch a crypto exchange from a well regarded exchange like Nasdaq lends further legitimacy to cryptocurrency. However, given the current regulatory uncertainty surrounding cryptocurrency and the SEC I fully understand the decision from a business perspective.  

In the short term, this is a setback for cryptocurrencies. I mean it is not good news. But, if you look at this from the long perspective, the fact that Nasdaq is going to get involved in cryptocurrency is a huge win for the industry as a whole.

I know there was good and bad regarding the Ripple XRP and SEC legal decision last week. I think, as I had written multiple times that most cryptocurrencies are commodities (not just Bitcoin and Ethereum, how can they play favorites legally?) However, the decision by Nasdaq at this time makes sense. I am disappointed in the decision as I think there is real eagerness for a lot of people to further invest in cryptocurrency and this decision just further delays the breakout in prices. On the other hand, my emotional disappointment is offest by the fact that my logical belief suggests that this is further buying opportunity. I will add the caveat, this is not investment advice (be safe with your money and cryptos are a risk), it is just my personal belief.

I wonder if this Nasdaq decision will be delayed for months or years. Only time will tell.

I do know that once the SEC is figured out and put in it's place as far as trying to regulate through enforcement instead of by laws set in place by legislators, things will be good to go!

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