Deribit Aims for US Entry amid Trump's Favorable Cryptocurrency Stand: Alleged Report
Cryptocurrency Giant Deribit Diving into the US Market
In an exclusive scoop, Deribit - the globe's largest cryptocurrency options exchange - is weighing the possibility of diving headfirst into the lucrative US market. The move is a direct response to President Donald Trump's pledge to turning the nation into the crypto capital of the world[1][3].
Luuk Strijers, the chief behind Deribit, has confirmed they are actively reassessing potential opportunities within the US. This comes after the nation has shown signs of adopting a more crypto-friendly stance[5]. Under the Trump administration, regulatory bodies like the Securities and Exchange Commission (SEC) have either halted or ended numerous cases against crypto firms for alleged federal securities law violations[3].
Just recently, the US Department of Justice (DOJ) disbanded its National Cryptocurrency Enforcement Team (NCET), which had a keen focus on crypto-related criminal activities[3].
Joining Deribit in setting sights on the US market are other international players such as the Seychelles-based crypto exchange OKX, the Switzerland-based crypto lender Nexo, London's Wintermute, and Abu Dhabi's DWF Labs[5].
However, Strijers points out that conquering the US market comes with challenges, even with the more supportive regulatory environment[5]. "Offering derivatives in the US remains complex. We are monitoring developments and evaluating strategic options accordingly," he stresses[5].
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[1] https://www.ft.com/content/a416df4a-a352-4a2a-8bc6-a68d6ce9635f[2] www.thedailyhodl.com/subscribe[3] www.coindesk.com/us-disbands-national-cryptocurrency-enforcement-unit-doj[4] www.coindesk.com/coinbase-acquires-crypto-derivatives-market-maker-tagox[5] www.coindesk.com/coinbase-tagox-acquisition-deribit-entry-us-market
Deribit, the world's largest cryptocurrency options exchange, is considering expanding into the US market, following President Trump's pledge to make the nation a crypto capital. The move is particularly significant amidst a more crypto-friendly US regulatory landscape, with the Securities and Exchange Commission (SEC) easing off on numerous cases against crypto firms. However, Deribit's CEO, Luuk Strijers, acknowledges the challenges that come with US market conquest, stating that offering derivatives remains complex. Other international players like OKX, Nexo, Wintermute, and DWF Labs are also eyeing the US market. Despite the complexities, Deribit's potential entry signals a growing interest in crypto trading in the US, especially with altcoins coming into focus for considerable gains.
