Deribit, known as the world's largest crypto options exchange, is considering expanding its operations into the US market. The move is driven by a perceived more favorable regulatory environment under the Trump administration, as reported by the Financial Times.

The CEO of Deribit, Luuk Strijers, stated that the exchange is actively exploring potential opportunities in the United States, citing the recent shift towards a more positive regulatory stance on cryptocurrencies as a key factor influencing this decision. In 2021, Deribit processed a substantial $1.3 trillion in notional volume, making it a significant player in the crypto derivatives space.

The potential entry of Deribit into the US market coincides with reports of negotiations between Deribit and Coinbase regarding a potential acquisition. Bloomberg reported on March 21 that both companies have informed regulators in Dubai, where Deribit is currently licensed. If the acquisition deal goes through, the license would need to be transferred to Coinbase.

Deribit's move towards the US market also aligns with a broader trend of European and Asian crypto firms exploring expansion opportunities in the United States. Following a period of regulatory challenges during the Biden administration, including the collapse of FTX in late 2022, there appears to be a shift in the regulatory landscape under the Trump administration.

President Trump has expressed ambitions to make the US the "crypto capital of the world," and regulatory agencies like the SEC have shown a more lenient approach towards the industry. The SEC has dropped or paused enforcement cases against several crypto companies since Trump's election victory. Additionally, the Department of Justice dissolved its cryptocurrency enforcement unit, signaling a more supportive stance towards the sector.

Deribit's potential entry into the US market reflects a broader trend within the crypto industry, with companies like OKX and Nexo also announcing plans to establish or re-enter the US market. This renewed interest in the US market from international crypto firms suggests growing confidence in the regulatory environment and opportunities for expansion.

Overall, Deribit's exploration of the US market highlights the evolving regulatory landscape in the cryptocurrency industry and the increasing interest from major players in expanding their presence in the United States.

Source: https://cointelegraph.com/news/deribit-us-expansion-trump-crypto-regulation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound