IEX Stock Exchange and Coinbase in Talks to Create Federal Digital Asset Market

02/22/2023 01:37 • AI Insights • 139 views

According to reports, according to sources, Katsuyama, chairman of IEX Stock Exchange, and his employees are currently negotiating with Coinbase, a publicly traded cryptocurrency exchange, to create a federally approved digital asset market.

Source: IEX is negotiating with Coinbase to create a new regulated exchange

Analysis based on this information:

In recent reports, it has been revealed that Katsuyama, the chairman of IEX Stock Exchange and his employees are in talks with Coinbase, one of the leading cryptocurrency exchanges, to create a federally approved digital asset market.

This development is significant because it could lead to the creation of a regulated market for Bitcoin and other cryptocurrencies, which have been struggling to gain acceptance in traditional financial markets since their inception more than a decade ago. Currently, cryptocurrency trading is largely unregulated, which has resulted in several instances of fraud and market manipulation in the past.

The involvement of IEX, which was founded in 2012 and gained prominence as a result of the publication of Michael Lewis’ book “Flash Boys,” could bring much-needed credibility to the digital asset market. IEX is known for its focus on transparency, fairness, and investor protection, which are all areas that have been lacking in the cryptocurrency market so far.

On the other hand, Coinbase, which is one of the largest cryptocurrency exchanges globally, has been working towards gaining regulatory approval in the US for several years now. If this partnership is successful, it could result in a breakthrough moment for the cryptocurrency industry in terms of gaining legitimacy and acceptance.

The fact that the negotiations are reportedly taking place at the federal level is also significant. It indicates that the aim of the partnership is to create a regulated market that is approved and overseen by the US government. This move could help address many of the concerns that policymakers have had with cryptocurrencies, such as its association with criminal activity and lack of transparency.

Overall, this partnership between IEX and Coinbase could bring about a much-needed change in the cryptocurrency market. It could create a level of trust and legitimacy that has been missing so far, and could help pave the way for broader adoption of digital assets by traditional financial institutions.

Keywords:
IEX: IEX Stock Exchange,
Coinbase: Coinbase,
Federal Approval: Government approval,
Digital Asset Market: Cryptocurrency trading market.

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IEX Stock Exchange and Coinbase in Talks to Create Federal Digital Asset Market

Source: IEX is negotiating with Coinbase to create a new regulated exchange

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