Deribit Sets Sights on US Market Amid President Trump’s Pro-Crypto Approach: Report

The world’s largest cryptocurrency choices trade is reportedly contemplating increasing its operations into the US.

The Monetary Instances reports that Dubai-headquartered Deribit is eyeing to enter the US market to make the most of President Donald Trump’s pledge to make the nation the crypto capital of the world.

Deribit chief govt Luuk Strijers says that the trade is “actively reassessing potential alternatives” within the US after the nation adopted a friendlier stance on crypto. 

Beneath the Trump administration, the U.S. Securities and Change Fee (SEC), which beforehand cracked down on the digital asset business, ended or halted over a dozen circumstances it filed towards crypto firms for alleged violations of federal securities legal guidelines.

Final month, the U.S. Division of Justice (DOJ) additionally disbanded its Nationwide Cryptocurrency Enforcement Workforce (NCET) unit that targeted on crypto-related prison actions.

A number of Asian and European crypto firms are additionally setting their sights on the US, together with the Seychelles-based crypto trade OKX, the Switzerland-based crypto lender Nexo, and two of the business’s main market makers: London’s Wintermute and Abu Dhabi’s DWF Labs.

However Strijers says firms making an attempt to faucet the US market nonetheless face challenges, although the regulatory atmosphere is now extra supportive of the digital belongings business.

“Providing derivatives within the US stays complicated. We’re monitoring developments and evaluating strategic choices accordingly.” 

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