Nasdaq sent an article on suggestions that would clarify the definition of crypto beings. The article states that crypto assets should be divided into four main categories, thus providing significant significance on which institution will make arrangements. The article came to the agenda with the call to focus more on the issue of US regulatory institutions.
NASDAQ CRIP RECOMMENDATION
According to Nasdaq’s proposal, crypto beings; Financial securities should be divided into four groups as crypto asset investment contracts, crypto asset commodities and other crypto assets. It is stated that this classification aims to distinguish between assets and others considered as securities within the framework of existing definitions. In the classification presented, the determination of net criteria for crypto asset investment contracts and the observation of existing judicial decisions stand out.
In the proposal, the distribution of duties is foreseen between the US Securities and the Stock Exchange Commission (SEC) and the Commodity Futures Trade Commission (CFTC). SEC’s crypto securities and CFTC will manage crypto commodities. The bill points out that if a new crypto asset law is introduced, this distribution of tasks will be clarified.
Editing Suggestions
Nasdaq, with a crypto transaction infrastructure, shows the services operating on six continents, and says that the existing technological infrastructure supports this type of asset. In addition, it is suggested that additional measures can be taken to enable the transaction platforms related to crypto assets to control investor activities from start to finish.
John Zecca said, “Those who are securities of crypto assets should be traded in accordance with the current market transaction order.”
Nasdaq’s letter shares the view that the existing ecosystem in the digital asset market can be made more efficient with correct classification and rule adjustments.
Suggestions aim to contribute to the debate on the creation of a more comprehensive regulatory framework for digital assets. This approach can be considered as a step to strengthen the arrangement and surveillance mechanisms by reducing the uncertainties of market actors. In the future, the relevant institutions are expected to put them into practice by detailing the suggestions.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
