How does NASDAQ solve a huge crypto problem?



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One of the biggest obstacles to the adoption of cryptocurrency has been removed by one of the world's largest stock markets, the Nasdaq.

It was announced yesterday about two cryptocurrency indexes that provide a real-time benchmark rate spot for Bitcoin and Ethereum by the US stock market.

The Bitcoin Liquid and Ethereum Liquid indices are indices that extract price data from several stock exchanges to provide viewers with a unique price for Bitcoin and Ethereum. Nasdaq assured that independent auditors had verified their methodology to obtain and unify the price data in order to present the best value of cryptos in USD.

According to the exchange, the Bitcoin Liquid Index "Is one of the most widely referenced BTC indices among crypto traders and was calculated until 2010."

The stock market added that simultaneously, Ethereum Liquid's index price data back to 2014. The algorithm under the indices was created by research firm Blockchain, Brave New Coin, based in New England. Zealand. These indices update the price data regularly, every thirty seconds to be precise.

Proposed Principles

The US stock market stated that its independent auditors had verified both liquid indices against the critical principles proposed by IOSCO. For those who do not know, IOSCO (International Organization of Securities Commissions) regulates futures markets and securities markets around the world.

Overall, this decision could lead to resolving regulators' concerns into a next-generation bitcoin derivative. A good example is the fact that the SEC has consistently rejected requests from nine Bitcoin ETFs for fear of manipulation.

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