Nasdaq Holds Secret Meeting to Legitimize Cryptocurrency

On July 27, 2018, Nasdaq held a closed-door meeting with traditional exchange and cryptocurrency company executives to discuss the future of the nascent sector.

Nasdaq hosted a secret meeting in Chicago with representatives from half a dozen cryptocurrency companies and traditional exchanges, reports Bloomberg July 27.

Gemini exchange co-founders, Tyler and Cameron Winklevoss attended the meeting following news that their recent Bitcoin ETF application was rejected by the U.S. Securities and Exchange Commission.

During the meeting, attendees discussed the implications of future cryptocurrency regulations and what tools and surveillance technologies would be required in the onset of regulated security token markets.

According to Bloomberg, Nasdaq plans to hold similar meetings in the future for an ongoing discussion among attendees.

With an industry-forward stance on cryptocurrency, Nasdaq CEO Adena Friedman has already taken action to help cryptocurrency exchanges advance their security systems.

In early July 2018, Gemini digital asset exchange partnered with Nasdaq to monitor Bitcoin and Ether trading through Nasdaq's SMARTS Market Surveillance systems.

Earlier this week, Nasdaq disclosed that it is supplying five crypto exchanges with market surveillance technologies, including SBI Virtual Currencies and Gemini among others.

Friedman recently expressed optimism for the growing digital economy, sharing that she believes cryptocurrency is the "Right next step in the space of currency" and that its underlying technology enables "More efficient" value transfer across borders.

Friedman told CNBC's Squawk Box that Nasdaq would even consider operating a cryptocurrency exchange once the sector matures and regulations settle.