The cryptocurrency options exchange Deribit is considering expanding into the U.S., driven by President Trump's crypto-friendly policy.
Deribit – the world's largest cryptocurrency options exchange based in Dubai – is considering the possibility of expanding its operations into the U.S. This decision is driven by new commitments from President Donald Trump to make the U.S. a global hub for digital assets, according to information from the Financial Times.
With a trading volume of $1.3 trillion last year, Deribit is joining the wave of crypto businesses like OKX and Nexo targeting the U.S. market after the Trump administration rolled out a series of policies supporting the sector. These policies include halting lawsuits from the U.S. Securities and Exchange Commission (SEC) and supporting bitcoin mining activities.
The legal challenges remain complex
Despite the positive outlook, Deribit's CEO – Mr. Luuk Strijers – also issued a warning about the complex legal challenges of offering derivative products in the U.S. market. He emphasized: “Providing crypto derivative products in the U.S. market requires overcoming specific legal barriers and cannot be rapidly implemented without a clear licensing mechanism.”
The crypto derivatives market in the U.S. is still under strict oversight from regulatory bodies such as the SEC and the Commodity Futures Trading Commission (CFTC). Although there are positive signals from the new administration, changing the legal framework will take time and may require major adjustments in the approach of regulatory agencies.
