Speaking at TOKEN2049 in Singapore, Nasdaq CEO Adena Friedman said retail crypto is about 10 years ahead of traditional markets, and Nasdaq will begin trading U.S. stocks 23 hours a day, five days a week, on Dec. 6. She sees moving money in real time as the harder part, so the plan is to tokenize money (stablecoins) first, then collateral such as Treasuries, stocks and money market funds, which could free “tens and tens of billions of dollars” tied up in collateral pools. The GENIUS Act takes effect on Jan. 18, 2027, or 120 days after final rules are issued, whichever comes first, and no final rule arrived in time for the January date. Friedman doesn’t expect traditional finance to adopt the full crypto playbook, and the broader Clarity Act remains stalled after failing a Senate procedural vote in September. The article points to Circle, Visa and Nasdaq as firms controlling key infrastructure, with Nasdaq licensing its trading technology to 135 market operators and regulators.
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Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/19/2026 | 81,938.40 |
| Change that session | -0.22% |
ETH/USDT
▲ Likely positiveEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/19/2026 | 2,408.01 |
| Change that session | -0.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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