Nasdaq CEO Adena Friedman said on Wednesday’s earnings call that the company is abandoning plans for its cryptocurrency custody service, which was supposed to go live in the second quarter of this year.
Given the changing business and regulatory environment in the U.S., Nasdaq has decided to suspend those plans and halt efforts to seek the necessary licenses, Friedman said.
She added that Nasdaq remains committed to participating in digital assets, including hosting exchange-traded funds (ETFs) related to the industry.