'Nasdaq Halts Plan For Crypto Custody Service Due To U.S. Regulatory Conditions' - CoinDesk
Portfolio Pulse from Happy Mohamed
Nasdaq (NDAQ) has halted its plans for a crypto custody service due to regulatory conditions in the U.S. The service was planned to go live in Q2 this year. The firm had applied to the New York Department of Financial Services for a limited-purpose trust company to oversee the custody business. This move is seen as a setback for institutional adoption of crypto in the U.S.
July 19, 2023 | 1:15 pm
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NEGATIVE IMPACT
Nasdaq's decision to halt its crypto custody service could have a neutral to negative impact on Bitcoin in the short term.
Nasdaq's decision could be seen as a setback for institutional adoption of Bitcoin, potentially leading to a neutral to negative impact on its price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nasdaq's decision to halt its crypto custody service could have a neutral to negative impact on Ethereum in the short term.
Nasdaq's decision could be seen as a setback for institutional adoption of Ethereum, potentially leading to a neutral to negative impact on its price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nasdaq's decision to halt its crypto custody service due to regulatory conditions could negatively impact its stock in the short term.
Nasdaq's decision to halt its crypto custody service due to regulatory conditions could be seen as a setback for the company's diversification efforts, potentially leading to a negative impact on its stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100