Nasdaq CEO Adena Friedman said in an interview on CNBC that Nasdaq is open to digital assets and will consider offering digital asset trading in the future.
If Nasdaq really launches the digital asset trading sector, it will be the first traditional stock exchange to open up digital asset trading.
The emerging digital asset market represented by Bitcoin, and the traditional financial market represented by stocks and bonds, is also expected to be broken.
In the long run, digital assets will no longer be the original baby.
The environment facing digital assets is constantly improvingThe Nasdaq’s entry into the world has been very different from the past.
In 2009, Bitcoin was born in the quagmire of the global financial crisis. Anonymous, de-intermediary, and a certain amount have won a large number of shares. However, its legal status has never been recognized by governments.
Even so, it does not affect the continuous development of digital assets led by Bitcoin.
However, at that time, Bitcoin was more of a dark net, the blood circulating in the unregulated underground world; accepting bitcoin payments is still a self-issuance of a small number of private businesses, most countries have not banned, but there is no correlation. The law regulates.
Until the emergence of a country.
While most countries have reservations, appropriate and even strict regulatory attitudes, one country has chosen to run counter to it. This country is Japan, and its tolerance for digital assets is almost beyond everyone's expectations.
On April 1, 2017, Japan's amended Payment Services Act came into effect, affirming the legal status of digital assets led by Bitcoin in the payment field, equivalent to recognizing the currency status of Bitcoin.
At the same time, it is the first to propose a licensing system for digital asset exchanges to issue formal digital asset exchange licenses for reviewing eligible exchanges.
To date, 16 Japanese-registered digital asset exchanges have obtained compliance licenses.
After that, digital assets are popular in Japan. In almost every mall, you can see banners that support Bitcoin payments. Streets and alleys are often seen in Bitcoin ATMs, which support the exchange of Japanese yen and digital assets.
While digital assets continue to spread, the yen has gradually surpassed the US dollar, becoming the largest currency in global digital asset trading, accounting for almost 50% of the daily bitcoin trading volume. Behind the yen are the US dollar, the Thai dollar (USDT), the Korean won and the euro, which account for about 30%, 10%, 5% and 1% of the daily bitcoin trading volume, respectively.
This move by Japan directly kicked off the skyrocketing digital asset market. In the whole year of 17 years, the total market value of the digital asset market increased by 30 times.
To date, the total market capitalization of the digital asset market has reached $400 billion, and the number of digital assets traded in the market has reached more than 1,500. Although it is not as good as the traditional financial market, it is amazing as an unsupported and often suppressed market. It can even be described as magnificent.
In addition to Japan, the Australian government officially recognized the payment status of Bitcoin on July 1, 2017, and officially implemented the exemption from double taxation, transaction tax and goods and services tax policy for Bitcoin, and implemented at the end of 2017. The registration system for digital asset exchanges authorizes the country's financial intelligence agency, the Australian Transaction Report Analysis Center (Austrac), to regulate bitcoin exchanges.
In 2018, even Russia, which once completely blocked digital assets such as bitcoin, began to change its attitude and embraced. The Ministry of Finance proposed the draft of the Digital Financial Assets Law and submitted it to the State Duma for review, hoping to face the figures at the legislative level. Assets are affirmed and regulated.
The emergence of Venezuela’s “coin coins†is more like a declaration of a blockchain chain in third world countries.
On January 31, 2018, Venezuelan President Maduro announced that the blockchain digital asset "PETRO" issued by the government was officially pre-sold on February 20, with a total circulation of 100 million pieces, from Venezuelan oil. Endorsed with precious metals reserves, the value of the currency is linked to the average price of a basket of crude oil in Venezuela, with a total valuation of about $6 billion.
Although the official English version of the white paper does not mention how crude oil is guaranteed as a guarantee, it only promises that “coin coins†can be exchanged for other digital assets or legal currency, or as a representative of crude oil commodities in online transactions; meanwhile, Venezuela officially launched the The motives for "coin coins" may not be so pure.
However, we can still feel that the environment facing digital assets is undergoing tremendous changes.
In the long run, the trend of digital asset development has taken shape. In the new era, we will surely see more and more countries begin to embrace digital assets, gradually change the conservative attitude, and let digital assets go to the sun.
The US Nasdaq is just one of them.
The United States may become an example of examining securities certificatesNasdaq’s digital assets are determined to have the influence of international trends and the inevitable domestic regulatory factors.
In 2017, the first issue of IniTIal Coin Offering (referred to as a crowdfunding around the pass, the crowdfunding share will be sold to investors in the form of a pass, in exchange for mainstream currencies such as Bitcoin, Ethereum, etc.) As an emerging financing method, the rapid rise, in less than a year, has surpassed the traditional venture capital position in the field of venture capital financing.
Whether the above-mentioned certificate issuance practice belongs to securities has always been a major controversy and faces a large legal gap.
In the United States, due to the strict supervision of securities issuance and the cumbersome registration process, most of the project parties have previously identified the issued certificate as “UTIlity Token†(ie, utility certificate, similar points, only use value). The way to comply is to avoid regulations and processes like IPO listings.
This kind of regulatory gap has made many high-quality start-ups, but it has also given many people the opportunity to sneak out and deceive investors.
Among them, the biggest scam comes from Bitconnect.
The company has invited people to deposit Bitcoin into the exchange in exchange for a BitConnect pass, which can lend to others and provide investors with up to 40% interest. Bitconnect did not list the details of the contact, did not provide any information about its team, and did not provide a white paper, but people still put money into it.
This Pang-style scam continued until the beginning of 2018, when Bitconnect was ordered to suspend business by the Texas and North Carolina government, causing a crash, and the founder team had already run the road, and investors suffered heavy losses.
In 2018, with the SEC launching investigations into various types of vouchers and related institutions, and at the US Congress’s Digital Asset Hearing in early February, CSRC Chairman Jay Clayton believes that almost all vouchers are issued In a word, officially declared the end of the wild era, the supervision will kill the chaos of the pass-through market.
Since then, more and more blockchain projects have abandoned the immature compliance approach of “UTIlity Token†and turned to recognize the securities attributes of the certificate, thus completely avoiding legal risks.
However, for most start-up projects, traditional registration and information disclosure in accordance with the Securities Act still has a lot of difficulty. At this time, two rules exempting the registration of securities by the SFC are reflected:
RegulaTIon A+ and Regulation D.
Regulation A+:
The Jobs Act (JOBS ACT), signed by President Obama in 2012 to support the development of SMEs, is a mini-listing rule for small start-ups registered in the United States and Canada. The most typical characteristics of this exemption rule are:
There is a limit on the amount of financing, up to 50 million US dollars
Public offering to public investors
Publicity, roadshow
Unlimited sales period for investors
Regulation D:
It is a private equity issuance rule established by the US Securities Regulatory Commission and implemented in 1982. It has three types of issuing rules: Rule 504, Rule 506 (b) and Rule (c). The latter two are widely used in the issuance of the pass, and the most typical characteristics of the exemption rule are:
There is no limit on the amount of financing
Private recruitment to qualified investors
No publicity or roadshow
Investor 12-month limited sale period
The story is not over here.
As the US Securities Regulatory Commission strengthens the regulation of digital assets, traditional US digital asset exchanges are also subject to censorship, and some digital assets that meet the conditions of securities may be forcibly removed.
If there are no exchanges that meet regulatory requirements to accommodate these securities digital assets, they will face a situation where there is nowhere to go and liquidity is lost.
That is why we believe that it is not so much that Nasdaq takes the initiative to take this step. It is better to say that there is not much time left for the US government.
The United States implements a taxation system for digital asset transactions. If a large number of certificates cannot be listed and traded in the United States, and the government will not be able to obtain tax revenue from related transactions, it will be unable to retain high-quality blockchain projects. Talent. Any point is not conducive to the United States.
Therefore, for the United States, it is imperative to promote the compliance of digital asset trading at the national level.
In the latter part of Nasdaq, the property of various types of certificates, that is, how to determine whether Bitcoin, Ethereum and other ERC20 certificates belong to securities, and whether it involves hierarchical management, how to deposit coins. They will all be examples of other countries.
Why is Nasdaq shouting the slogan?As a securities trading market that absorbs a series of high-tech companies such as Apple, Google, Facebook, and Amazon, Nasdaq has always been highly inclusive of emerging technologies, and with the blockchain technology behind digital assets. And combined.
At the same time, Nasdaq is also the world's first electronic stock market, and the digital assets themselves are electronic. In terms of characteristics, digital assets are extremely matched with Nasdaq.
In fact, Nasdaq has long been laying out and exploring blockchains.
2015
At the Money20/20 conference in Las Vegas, Nasdaq officially launched its blockchain-based product, Nasdaq Linq, which is based on blockchain technology and allows companies to privately issue "digital" "The equity, which is considered to be an attempt by Nasdaq to explore the settlement of equity on the blockchain.
2016
NASDAQ launches the Nasdaq Financial Framework system, which provides end-to-end solutions for NASDAQ's global financial infrastructure customers and provides blockchain-based services that export blockchain technology and capabilities.
2017
The New York Interactive Advertising Exchange (Nyiax) announced its entry into the pilot phase, which allows publishers, advertisers, and media advertisers to purchase, sell, and re-trade inventory based on guaranteed contracts. It will be the first exchange to be built in the cloud and run on the blockchain. Nasdaq will provide technical support.
Therefore, it is not surprising that Nasdaq is the first to introduce into digital asset trading.
Digital asset trading, how will the future structureThe addition of Nasdaq brings a touch of uncertainty to the territory of digital asset trading, and it is bound to attract more traditional stock exchanges. Traditional digital asset exchanges will face traditional finance. Competitive pressure.
But for the entire digital asset market, this is a great booster.
At present, there are more than 200 digital asset exchanges in the world, and there are many differences. The core of digital asset trading lies in liquidity and depth, and on the other hand, regulation and risk control.
The entry of traditional finance will accelerate the reshuffle of this area, and the excess backward production capacity will be eliminated, and the quality platform will further stand out.
In addition, the entry of traditional finance will also accelerate the integration of digital asset markets with traditional financial markets:
On the one hand, digital asset exchanges will seek to obtain licenses for relevant financial categories in order to capture the general trend of security tokenization. Coinbase CEO of the US digital asset exchange said in early April that the company is applying for a license from the US Securities and Exchange Commission and wants to transform into a licensed brokerage and a national securities electronic trading platform.
On the other hand, traditional stock exchanges like Nasdaq face customer thresholds, technical thresholds, etc., and need to cooperate with digital asset exchanges. Digital asset exchanges also need to learn from the traditional stock exchanges, etc. Aspects of experience. On April 25th, Gemini, the digital currency exchange founded by the Wenkleworth brothers, announced that it will cooperate with Nasdaq to monitor the trading pairs of all its digital assets using Nasdaq technology. It is the best example of cooperation and embrace.
Digital asset trading is a 24*7 endless, borderless market that requires a new system to support its operations.
At the same time, traditional stock exchanges will also face a variety of risk control challenges, such as hot and cold wallet processing, digital asset code vulnerability identification and early warning processing mechanisms.
In the future, we will certainly see Nasdaq and its successors draw on these experiences from the digital asset exchange.
In the end, digital asset trading will evolve into a competition for occasional rules, risk control, and service capabilities.
We believe that the prospects for digital assets and blockchain are bright.
In 2018, it is destined to be an extraordinary year. The future has come, let us wait and see...
With more than 15+ yrs rich MFG experience, you can definitely trust in and cooperate with.
Provide you with the supply of Personal Protective Equipment. to help you safely get back to your daily routine.
Our products include pulse Oximeter Finger, Forehead Thermometer, Automatic foam soap dispenser, etc.
Our strict quality control protocol thoroughly vets every aspect of production, storage, and shipments all the way way to our end customers.
nano spray gun, nano spray gun disinfectant, nano spray machine
TOPNOTCH INTERNATIONAL GROUP LIMITED , https://www.mic11.com