Deribit, the world's largest crypto options exchange, is weighing an entry into the US market

Deribit, the world's largest crypto options exchange, is exploring a US expansion, encouraged by a friendlier regulatory climate

Deribit, the world's largest cryptocurrency options exchange, is considering entering the US market, according to a recent Financial Times report.

The report quotes Deribit CEO Luuk Strijers, who said the exchange is "actively reassessing potential opportunities" in the United States.

The decision to expand into the US is being driven by what Strijers sees as a "recent shift toward a more favorable regulatory stance on crypto in the US."

Deribit's potential plan to expand into the US comes amid reports that Coinbase is in advanced negotiations to acquire the platform.

Both companies have notified regulators in Dubai, where Deribit is licensed, and the license would need to be transferred to Coinbase if the deal is finalized.

The move by Deribit and Coinbase comes as competitors like Kraken are also pursuing growth in the derivatives space, highlighted by its $1.5 billion acquisition of NinjaTrader.

Crypto firms target US expansion

Deribit joins a growing list of European and Asian crypto firms exploring US expansion.

The shift follows a period of regulatory hostility during the Biden administration, which saw an aggressive crackdown from the SEC and DOJ, prompting many firms to withdraw from US operations.

However, the narrative appears to be shifting under Trump, who has pledged to "make the US the crypto capital of the world."

Since Trump's election victory, the SEC has dropped or paused over a dozen enforcement cases against crypto companies.

Additionally, the Department of Justice recently announced the dissolution of its cryptocurrency enforcement unit, signaling a softer approach to the sector.

This hands-on approach appears to be boosting industry confidence.

For example, OKX has announced plans to establish a US headquarters in San Jose, California, just months after settling a $504 million case with US authorities.

On April 28, Nexo, which left the US at the end of 2022 citing a lack of regulatory clarity, revealed that it is reentering the US market.

Switzerland's Wintermute and Dubai's DWF Labs are among other major crypto players that have shown interest in exploring US expansion.