BTCUSDT: NYSE President: Open to Crypto Trading with Clearer Regulations
The NYSE President and CEO both are saying willing to add crypto trading in the NYSE platform due to innovations in the currency to Digital token based Coin platforms is increased in the market.
The Bitcoin ETFs soared to $58 Billion in the Assets as reported by US SEC is the Huge success in approving Bitcoin ETFS Approval from the US Government.
BTCUSDT is moving in box pattern and market has fallen from the resistance area of the pattern
Whoever appointed Biden or Trump or Michelle Obama, 2025 is the year Crypto regulations will be Fully approved by US SEC and then we adopt the Crypto trading in the NYSE Platform.
Lynn Martin, President of the New York Stock Exchange (NYSE), expressed openness to the idea of introducing cryptocurrency trading on the exchange. However, she highlighted the lack of clear regulatory guidance as a significant obstacle to such an expansion. Martin made these remarks during a panel discussion at Consensus 2024 in Austin, Texas, stating that if there were clear regulatory guidelines in the U.S., it would be an opportunity worth exploring.
Martin pointed out the increasing demand for regulated crypto products, citing the success of U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs), which have amassed $58 billion in assets. She emphasized that this demand indicates a market preference for regulated structures and hoped that regulators, particularly the U.S. Securities and Exchange Commission (SEC), would recognize the significance of this trend.
Tom Farley, CEO of the crypto exchange Bullish and Martin’s predecessor at NYSE, echoed similar sentiments during the panel discussion. He noted that while traditional financial markets and digital assets are becoming more intertwined, the lack of regulatory clarity continues to hinder innovation in the industry. Farley emphasized the importance of regulatory clarity in fostering innovation and progress in the digital asset space.
Farley also discussed the recent shift in U.S. political attitudes towards crypto, citing events such as the removal of anti-crypto officials from regulatory positions and the passage of pro-crypto legislation like the Financial Innovation and Technology for the 21st Century Act (FIT21). He expressed optimism about the future regulatory landscape, regardless of who holds the presidency.
Despite the challenges posed by regulatory uncertainty, both Martin and Farley remain optimistic about the potential of blockchain technology to enhance financial processes. Martin particularly highlighted the potential for blockchain to improve efficiency and transparency in less liquid assets like municipal bonds.
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However, Farley cautioned that regulators may prefer private blockchains over public ones due to their concerns about decentralized systems. He expressed skepticism about the mass migration of traditional assets to digital asset rails and suggested that regulators would likely exert control over private blockchains to ensure compliance with regulatory standards.
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