Seven cryptocurrency exchanges, including Gemini and SBI Virtual Holdings, have passed Nasdaq's comprehensive test to use its exchange and customer surveillance technology. The criteria include the exchanges business model, adoption of Know Your Customer and Anti-Money Laundering (KYC/AML) laws, and exchange governance and controls. Nasdaq is primarily concerned with who is using cryptocurrencies and why, leading them to accept proven entities first. Unlike the New York Stock Exchange, which has taken a forward stance with its futures exchange Bakkt, Nasdaq is taking a slow approach and focusing on technical support.