Thomas Parley, former CEO of the New York Stock Exchange, appeared on CNBC’s investment program “Squawk Box” on the 22nd (local time) and mentioned Coinbase listing, DeFi (decentralized finance), and future cryptocurrency regulations. Coinpost reported this on the 23rd.
Thomas Farley is the 66th CEO of the New York Stock Exchange. In the past, he has served as COO at Intercontinental Exchange (ICE).
Pali explained that in 2013, on behalf of the New York Stock Exchange, it was making a significant investment of 10 million dollars (about 11.2 billion won) to Coinbase, a cryptocurrency exchange. It is said that he did not invest in Coinbase due to compliance, etc.
On the 14th of last week, Coinbase made a direct listing (DPO), which became the first case of listing on Nasdaq as a cryptocurrency unicorn company, he said, “Cryptocurrency space is great now.”
Looking back at the history of the financial market, cryptocurrency was described as the most “unknown secret”, and even compared to traditional exchanges, “coinbase is the 8th largest in the world.”
In addition, he mentioned that it is “recording a transaction volume that exceeds the coinbase” for the sold decentralized finance (DeFi). Several people who have gained experience in financial companies are explaining that they established a decentralized exchange (DEX) as a smart contract with code, and that DEX, etc., surpasses conventional cryptocurrency exchanges.
However, on the other hand, Wall Street’s traditional financial institutions, which had been in the hands of almost all asset classes over the past centuries, said they did not follow trends such as DeFi at all, leading to the rise of Coinbase as a result.
[Future US cryptocurrency regulation]
Meanwhile, Gary Gensler, the new chairman of the US SEC (Securities and Exchange Commission), said he has a deep insight into cryptocurrency.
A former professor at Massachusetts Institute of Technology (MIT), he is known to have taught classes related to bitcoin, and said he deeply understands why cryptocurrency exists, its use cases, and its advantages.
Therefore, it is expected that the regulations around cryptocurrency in the United States will not overly impede the blockchain industry. He said he would pursue criminal organizations such as drug cartels because he prefers high transparency and minimal KYC (personal identification process) and AML (money laundering measures).
In the United States, legislation was passed in the House of Representatives this week calling for clarification of regulations related to cryptocurrency.
The next step was deliberation in the Senate. If realized, a working group will be formed to handle the gaps in perceptions of different regulatory agencies, such as the US SEC and the Commodity Futures Trading Commission (CFTC), whose methods of understanding cryptocurrency are different.
※ All posts in Coincode, a simple personal blog, are paraphrased & referenced from overseas news, not Coincode’s opinions. Coin codes are not based on facts! It doesn’t mean anything more than a reference (just filter it out). For quick news, use each coin’s Twitter!
[Coincode (coincode.kr), if you share, please leave the source. ]
The post NYSE former CEO “The United States is likely to be too low a pressure cryptocurrency industry” appeared on FIRST coin code .
Disclaimer: The content of the “Coin Code Spot” section is one source that is provided after translation into Korean or English, and is composed based on a reliable reporter, but it does not mean that the information has been confirmed. No opinions, etc. can be provided. Faster and faster breaking news of various foreign media is available at’coincode.kr’ .
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.