FX168 Financial News (Asia Pacific) News New York Stock Exchange President Lynn Martin (Lynn Martin) said at the 2024 consensus meeting that if the regulatory situation becomes more clear, spot trading of Bitcoin and cryptocurrencies will be considered. Tom Farley (Tom Farley), the former president of the New York Stock Exchange and CEO of Bullish, predicts that regardless of the November election results, the US regulatory environment will improve over the next few years.
During a panel discussion at the 2024 Consensus Conference in Austin, Texas, on Wednesday (May 29), Lynn gave a clear signal: “If the US has clear regulatory guidance, this will be an opportunity worth watching.”
(Source: CoinDesk)
She added that the US-listed Bitcoin spot ETF has accumulated $58 billion in assets, which is a “strong signal” that there is demand for regulated crypto products. #现货比特币ETF #
She discussed this key topic with Farley, saying that although traditional financial markets are becoming more and more closely linked to digital assets, and more and more traditional financial giants are starting to provide cryptographic products, unclear regulations are still hampering industry innovation.
Lynn added: “The fact that about $58 billion has flowed into Bitcoin spot ETFs is a strong indication that the market is seeking regulation of traditional structures. So hopefully the US Securities Regulatory Commission (SEC) will see this inflow and say, 'Hey, this makes sense' because the Bitcoin ETF has been a huge success.”
According to a report by the Financial Times (Financial Times) earlier this month, the New York Stock Exchange (CME), a US competitor and regulated cryptocurrency futures trading giant, is planning to launch cryptocurrency spot trading to customers.
Farley highlighted a sudden shift in US politics's attitude towards cryptocurrencies, including the resignation of the Federal Deposit Insurance Corporation (FDIC) anti-cryptocurrency chairman, the passage of the 21st Century Financial Innovation and Technology Act (FIT21) by the House of Representatives, and Republican presidential candidate Trump's doubling support for cryptocurrencies in a series of events.
“The five-year evolution was completed in five minutes,” he said. “I'm very optimistic about what it means to this country. I think just like in Europe and Hong Kong, regulators will make regulations, 'Hey, what is your proper digital asset industry. '”
He also mentioned, “Whether Trump, Biden, or Michelle Obama are elected as presidents, you will see progress in 2024 and 2025.” #美国大选 #
Lynn said she is still optimistic about using blockchain technology to make financial processes more efficient and transparent, especially for less liquid assets such as municipal bonds.
However, Farley said traditional real-world assets will not migrate to digital asset tracks on a large scale given the regulators' distrust of public blockchain pipelines. “Regulators want their power-hungry, sticky little fingers to everything,” he said.
“How did you reach Solana? How are you getting to the decentralized stuff?”
He concluded: “As a result, regulators may push traditional finance (TradFi) companies to develop private blockchains instead of using existing blockchains for settlement.”