President of NYSE Open to Enabling Crypto Trading Upon Establishment of Clear Regulatory Framework
Lynn Martin, the head of the New York Stock Exchange, is considering the introduction of cryptocurrency trading, anticipating more explicit regulatory protocols for digital currencies.
During a recent conference, Martin pointed out the current ambiguity in guidelines from the U.S. Securities and Exchange Commission (SEC) as a hurdle for implementing crypto trading in U.S. markets.
Martin expressed that tangible regulatory frameworks could pave the way for considering such a move, citing the rising demand for Bitcoin spot ETFs as evidence of market interest in crypto assets.
Critiques have been directed towards the SEC for not establishing concrete parameters governing the crypto space.
While SEC Chairman Gary Gensler has indicated potential regulatory actions aligning crypto with securities, concrete rules remain unrealized, causing uncertainty.
At the event, Martin acknowledged the shifting political perspective on cryptocurrencies, highlighting the House of Representatives passing the “Financial Innovation and Technology for the 21st Century Act.”
She remained hopeful about leveraging blockchain for streamlining financial operations, particularly with assets like municipal bonds which are not commonly liquid.
Bitcoin has seen a 54% surge this year, with its present valuation at $67,850 U.S.
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