HomeCryptoNYSE: yes to crypto trading, if only the regulatory framework were clear

NYSE: yes to crypto trading, if only the regulatory framework were clear

New York Stock Exchange (NYSE) President, Lynn Martin, says she is open to offering crypto trading, provided that the regulatory framework is clearer. Not only that, Martin considers crypto trading as an expansion opportunity for the stock market giant. 

NYSE: the Presidente is in favor of offering crypto trading, but the regulatory framework is an obstacle

During a roundtable at Consensus 2024 in Austin, Texas, the President of the New York Stock Exchange (NYSE), Lynn Martin, and the CEO of Bullish, Tom Farley, discussed crypto trading.

Nello specifico, Martin avrebbe affermato di essere aperta a considerare di offrire il crypto trading sul gigante del mercato azionario, ma il quadro normativo non chiaro rappresenta un ostacolo. 

“@NYSE The President stated at #Consensus2024 that she would consider offering cryptocurrency trading on the stock market giant, but regulatory uncertainty poses an obstacle.”

Ecco cos’ha detto la Presidente del NYSE:

“If there were clear regulatory guidance [in the United States], it would be an opportunity to consider”

Not only that, Martin would have also added that the accumulation of 58 billion dollars by spot Bitcoin ETFs listed in the USA, would be a strong signal of the demand for regulated cryptographic products. 

“The fact that about 58 billion dollars have flowed into ETFs was a strong signal that the market is looking for regulation in traditional structures. So, hopefully, the [U.S. Securities and Exchange Commission] has seen the inflows and said: ‘Hey, this makes a lot of sense’, considering that bitcoin ETFs have been a huge success.”

NYSE favorable to crypto trading, but the unclear regulatory framework is an obstacle

A seguire, è intervenuto anche il CEO di Bullish, Tom Farley, che è anche il predecessore della Martin al NYSE. 

Farley predicts that the US regulatory environment will improve over the next two years, regardless of the election outcome, and the direction will be to regulate crypto.

The current CEO of Bullish has highlighted the changes in opinion towards cryptocurrencies in US politics. Among others, Farley mentioned the ousting of the anti-crypto president of the Federal Deposit Insurance Corp. (FDIC), the approval of the Financial Innovation and Technology for the 21st Century Act (FIT21) bill in the House. 

Not only that, Farley highlights the doubling of support for cryptocurrencies by the Republican presidential candidate Donald Trump in a rapid chain of events.

A tal proposito, ecco le sue parole:

“Five years of evolution have happened in five minutes. I am really optimistic about what it means in this Country. I think that, just like in Europe, just like in Hong Kong, regulators will codify: ‘Hey, what is the reasonable aspect of your digital assets sector. [..]You will see a progression in 2024 and 2025, regardless of whether it is Trump or Biden or Michelle Obama [as president]”.

The survey of the Stock Exchange team to its stakeholders

Last April, the data analysis team of the NYSE would have issued a survey to its stakeholders, probing their opinions regarding a possible extension of trading hours on the Exchange.

Specifically, the survey asks for opinions on a change in the operating hours of the Stock Exchange, which from the classic 9:30-16:00, would become 24h/24h. 

Not only that, the questions to the stakeholders also concern the number of operational days which, from the classic Monday-Friday, would become 7 days a week. 

And so, while the classic hours and days have characterized the Borse and the stock market for decades, now the giant NYSE is asking to become totally continuous, just like the crypto market. 

This survey could arrive precisely on the model of the crypto market that proves to be successful, offering traders the flexibility to operate across different time zones and without closure constraints or market downtime.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.