Nasdaq Puts Brakes on Crypto Custody Service Amid Regulatory Uncertainty

Nasdaq has decided to halt its plans for a crypto custody service due to the shifting business and regulatory environment in the U.S. The company had previously applied for a limited-purpose trust company license but will now focus on supporting the digital asset industry through partnerships and providing technology for crypto custody. This move is seen as a setback for institutional adoption of crypto in the U.S., as regulators continue to target crypto firms and impose strict requirements for involvement in the space.