Nasdaq Discusses Crypto Regulation with Gemini, Five Others at Closed-Door Meeting

Nasdaq and representatives of about six companies operating in the cryptocurrency market held a closed-door meeting last week.

Stock exchange operator Nasdaq held a closed-door meeting last week with representatives from cryptocurrency exchange Gemini and about five other crypto-oriented companies, Bloomberg reports, citing a person familiar with the matter. The event in Chicago was organized to discuss ways to improve the image of the cryptocurrency market and admit its significant potential in the global markets.

Gemini did not respond to comment requests while a Nasdaq spokesperson declined to comment, but confirmed that the event took place. It seems that Nasdaq, the operator of the second largest stock exchange in the world, wants to push the crypto industry towards the mainstream.

The source told Bloomberg that some of the discussed topics were related to the future regulation of cryptocurrencies and the necessary adjustments required for achieving that. Nasdaq CEO Adena Friedman has previously mentioned the need for crypto regulation. Moreover, the company is helping several exchanges to be in line with the requirements.

Bloomberg’s source also said that there would be more such events as the dialogue between the parties would be ongoing.

In April, we reported that Gemini partnered with Nasdaq to use its advanced surveillance system to prevent and control market manipulations. The stock exchange operator revealed last week that it was offering its technological solutions to five cryptocurrency exchanges, which includes Gemini and SBI Virtual Currencies. The other three entities were not disclosed.

The fact that such large companies like Nasdaq are joining forces with key players of the cryptocurrency world gives hope to the crypto community that Wall Street will accelerate the adoption of the emerging industry. The Wall Street entities, including banks, institutional investors, fund managers, regulators, and other parties, are viewed as the upper echelon of the financial world. Any kind of approval from that side is regarded as a big victory for the cryptocurrency space.