Nasdaq (NDAQ) is dropping its plans for a crypto custody service, slated to go live in the second quarter of this year, CEO Adena Friedman said in an earnings call on Wednesday. Contrary to the initial enthusiasm, there is an excellent amount of "caution and concern" currently among G20 countries about cryptocurrencies, Reserve Bank of India (RBI) Governor Shaktikanta Das said in Gandhinagar Tuesday. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin dipped below the $30,000 mark early Thursday. While Ethereum tumbled almost a percent and breached the $ 1,900 level. Other popular altcoins like Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) saw a fair mix of dips and gains across the board. The global cryptocurrency market cap was trading slightly lower, hovering around the $1.21 trillion mark, as it dropped marginally, less than a percent in the last 24 hours.
Nasdaq (NDAQ) is dropping its plans for a crypto custody service, slated to go live in the second quarter of this year, CEO Adena Friedman said in an earnings call on Wednesday.
In September 2022, the Nasdaq stock exchange operator said it was putting together the infrastructure and regulatory approval needed for a crypto custody service. The firm had applied to the New York Department of Financial Services (NYDFS) for a limited-purpose trust company, which would oversee the custody business.
Now Nasdaq has opted to halt these plans and its effort to pursue the necessary license "considering the shifting business and regulatory environment in the U.S.," Friedman said.
Contrary to the initial enthusiasm, there is an excellent amount of "caution and concern" currently among G20 countries about cryptocurrencies, Reserve Bank of India (RBI) Governor Shaktikanta Das said in Gandhinagar Tuesday.
"The earlier enthusiasm amongst countries about crypto — they believed it is a great innovation — is now completely muted… Everybody realized that there are huge risks. So there is a great amount of caution and concern around crypto currencies," Das said as he addressed the media after the conclusion of the Third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
French bank Societe Generale has become the first company in France to obtain a license for crypto services, as a growing number of mainstream financial companies embrace crypto globally this year.
Societe Generale's crypto unit, Forge, is licensed as of Tuesday to offer services, including crypto custody, trading, and sales, according to the website of France's AMF market regulator. The news was first reported by crypto outlet CoinDesk.
Many crypto firms, including the world's biggest exchange Binance, have already registered with the AMF. Licensed firms, however, are subject to more onerous rules in areas including corporate governance, IT and compliance.
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