The president of the NYSE would consider trading cryptocurrencies if the regulations were clear

Posted on May 30, 2024 by darion

Baystreet.ca – The president of the NYSE would consider trading cryptocurrencies if the regulations were clear<br />

New York Stock Exchange (NYSE) CEO Lynn Martin says she would consider allowing cryptocurrency trading if regulations surrounding digital coins and tokens were clearer.

Speaking at the conference, Martin said that the lack of clear regulatory guidelines from the US Securities and Exchange Commission (SEC) is an obstacle to launching cryptocurrency trading on US markets.

“If there were clear regulatory guidance, this would be an opportunity to look at it,” Martin said, adding that the popularity of Bitcoin (BTC) cash exchange-traded funds (ETFs) shows there is investor demand for tradable crypto products.

The SEC has faced criticism for its lack of clear regulatory guidance on cryptocurrencies.

While SEC Chairman Gary Gensler has threatened to regulate cryptocurrencies in the same way as stocks, the Wall Street regulator has so far failed to enact any such measures, leading to confusion.

At the conference, Martin discussed the changing political stance on cryptocurrencies, highlighting the recent passage of the House of Representatives bill, the “21st Century Financial Innovation and Technology Act.”

Martin said she remains optimistic about the use of blockchain technology to streamline financial processes, especially for less liquid assets such as municipal bonds.

The price of Bitcoin has increased by 54% this year and currently stands at USD 67,850