New York Stock Exchange to Consider Crypto Asset Trading as Regulatory Environment Improves
Date: 2024-05-31 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
NYSE CEO Statement
The head of the New York Stock Exchange (NYSE) Lynn Martin said that the exchange is ready to consider the possibility of launching spot trading of crypto assets if the regulatory environment in the United States becomes clearer and more favorable. In an interview with CoinDesk, she emphasized that clear regulatory guidance is key to this move.
The need for regulatory clarity
Lynn Martin noted that the high demand for spot Bitcoin ETFs indicates the market is interested in regulating traditional structures. The approval and inflow of capital into these funds, amounting to approximately $58 billion, demonstrates significant market interest in crypto assets.
“If there were clear regulatory guidance in the United States, this possibility could be considered,” Martin said. She expressed hope that the US Securities and Exchange Commission (SEC) will change its approach, seeing such success in the market.
Forecasts for an improved regulatory environment
Tom Farley, CEO of the Bullish exchange, in a conversation with Lynn Martin noted that the regulatory environment is already beginning to change. He pointed to the high chances of approval of the FIT21 bill and personnel changes at the Federal Deposit Insurance Corporation (FDIC) as signs of these changes.
Farley emphasized that improvements in the regulatory environment will occur regardless of the outcome of the upcoming elections. In his opinion, no matter who becomes president - Donald Trump, Joe Biden or Michelle Obama - progress in this direction is inevitable.
“You will see some movement regardless of who is at the helm - Trump, Biden or Michelle Obama,” Farley said.
Consideration of other exchanges
Earlier it became known that the Chicago Mercantile Exchange (CME) is also considering the possibility of launching spot trading of crypto assets. This indicates a growing interest in cryptocurrencies among large financial institutions.
NYSE plans to launch options contracts
In addition, the NYSE plans to launch options contracts based on the CoinDesk index, which tracks changes in the spot price of Bitcoin. This is another step towards integrating cryptocurrencies into traditional financial markets and creating new opportunities for investors.
Lynn Martin's announcement of the NYSE's willingness to consider crypto asset trading as the regulatory environment improves underscores the importance of clear regulatory rules for the development of this market. The regulatory shifts predicted by Tom Farley and the plans of other exchanges indicate growing interest and opportunity for crypto assets in the coming years.
