World’s largest stock exchange preparing to increase business through crypto

The New York Stock Exchange (NYSE), the world’s largest stock exchange, plans to launch an NFT marketplace linked to cryptocurrency exchanges and the metaverse. For this permission has been sought to use NYSE as a trademark. The crypto segment in the US is getting political, administrative and industry support. However, laws relating to this segment do not exist in the US.

The NYSE has applied to the US Patent and Trademark Office and is awaiting approval. The NYSE plans to create a virtual marketplace for selling non-fungible tokens (NFTs). It also wants to expand into the metaverse segment, where buyers will be able to interact with their NFTs in a completely virtual setting. NYSE also plans to launch its own crypto token after getting the license. Not much information has been given about this. However, the NYSE says that its crypto-related plans will not be acted upon immediately.

The New York Post said in a report quoted by the exchange, “The NYSE regularly considers new products and their impact on their trademarks. In addition, intellectual property rights are protected. NYSE immediately There are no plans to introduce cryptocurrency or NFT trading.”

This is not the first time that the NYSE has taken a step towards the crypto segment. Last year the NYSE launched the first bitcoin futures ETF. Due to this, the price of bitcoin also increased significantly. Cryptocurrency is also being promoted in Russia. Recently, the government and the Bank of Russia have entered into an agreement to regulate cryptocurrencies. After this, a draft is being prepared, which can come out by February 18. In this, crypto will be defined as an ‘analog of currencies’ instead of DFA (Digital Financial Assets). Legally, crypto-related transactions can be done with full identity only through the banking system or licensed intermediaries. In Russia, rules regarding crypto mining are also being relaxed. Russian President Vladimir Putin also indicated a liberal stance for the crypto segment.

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