According to a Bloomberg report, Nasdaq, the exchange operator, has announced that it is halting the launch of its crypto custodian business in the United States due to a shifting business and regulatory environment. 

Nasdaq’s Crypto Plans On Ice

The announcement comes as a surprise as the company previously announced plans to offer custody services for Bitcoin and Ether for institutional investors. The exchange operator had planned to launch the service by the end of the second quarter but now says it will no longer pursue a license related to the business.

Nasdaq’s decision to halt its digital-asset custodian business is a reflection of the rapidly evolving regulatory environment surrounding crypto. The company cited the changing business and regulatory environment as the reason …