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

The world’s largest cryptocurrency options exchange is reportedly considering expanding its operations into the US.

The Financial Times reports that Dubai-headquartered Deribit is eyeing to enter the US market to take advantage of President Donald Trump’s pledge to make the country the crypto capital of the world.

Deribit chief executive Luuk Strijers says that the exchange is “actively reassessing potential opportunities” in the US after the nation adopted a friendlier stance on crypto. 

Under the Trump administration, the U.S. Securities and Exchange Commission (SEC), which previously cracked down on the digital asset industry, ended or halted over a dozen cases it filed against crypto companies for alleged violations of federal securities laws.

Last month, the U.S. Department of Justice (DOJ) also disbanded its National Cryptocurrency Enforcement Team (NCET) unit that focused on crypto-related criminal activities.

Several Asian and European crypto companies are also setting their sights on the US, including the Seychelles-based crypto exchange OKX, the Switzerland-based crypto lender Nexo, and two of the industry’s leading market makers: London’s Wintermute and Abu Dhabi’s DWF Labs.

But Strijers says companies trying to tap the US market still face challenges, even though the regulatory environment is now more supportive of the digital assets industry.

“Offering derivatives in the US remains complex. We are monitoring developments and evaluating strategic options accordingly.” 

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