European exchange operator Euronext has no plans to start trading cryptoassets without strong support from regulators. Euronext chief executive Stéphane Boujnah said today. Previously reticent exchanges are venturing into trading cryptoassets, Reuters reported.
Regulated form of crypto trading
The London Stock Exchange (LSE) said this month that it will begin accepting applications for cryptocurrency bonds later this year, providing professional investors with exposure to cryptoassets. Small investors are prohibited from such deals.
Germany’s Deutsche Börse also announced this month that it has launched a regulated cryptocurrency trading platform for institutional investors.
Contributes interest through approved funds
The price of the most famous cryptocurrency bitcoin reached a record high of about $74,000 (over CZK 1.7 million) last week, but then fell back to about $67,000 and was below $63,000 this afternoon. This year, bitcoin has appreciated by more than 50 percent. Analysts say the growth is driven by interest in newly approved bitcoin exchange-traded funds (ETFs), among other factors.
Boujnah suggested that Euronext is in no hurry to catch up with its rivals. The company’s largest business activities are in Italy, France and the Netherlands. Regulators in these countries are still reticent about trading cryptoassets. Regulators in Rome and Amsterdam are clearly opposed, while the French one is very cautious, the Euronext chief said.
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