Weekly Roundup 07/21/23 (Nasdaq reconsiders custody, the Torres doctrine) (EP.439)
On The Brink with Castle Island
The SEC's Objective to Unbundle the Exchange Functions
I always thought the SEC's objective to unbundle the exchange functions was targeted at the crypto native firms like the Coinbase. But you don't see trad five firms operate exchanges and also operate global custodians. So I think it's quite possible that NASDAQ is either reading the tea leaves on some of Gensler's public statements, which is like this week he was on the record saying that a number of these crypto companies have inherent conflicts.
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