Media: Jane Street and Jump Crypto will leave the US due to pressure from regulators

Some of the world’s largest market makers Jane Street and Jump Trading will stop trading digital assets in the US amid regulatory uncertainty. About this, with reference to informed sources, writes Bloomberg.

Jane Street will reduce the scale of crypto transactions globally as the lack of supervisory certainty will make it difficult to conduct business in accordance with internal standards.

Jump Crypto, a subsidiary of Jump Trading, will stop digital asset trading in the US, but expand it in other jurisdictions.

Bloomberg noted that representatives of Jane Street and Jump Crypto were questioned by the US Attorney’s Office as part of an investigation into the collapse of the Terra ecosystem. The last market maker was the main venture investor in Terraform Labs. Investigators did not press charges.

Jane Street was named among the three American companies mentioned CFTC in a lawsuit against Binance as those US customers who were able to access the international platform despite the promise not to do so. The regulator also did not press charges.

FTX founder Sam Bankman-Fried worked at Jane Street before founding the platform. Caroline Ellison, who headed Alameda Research, had the same line on her resume.

In May, Gemini and Coinbase launched exchanges abroad. The latter allowed the creation of an international hub in the UAE.

Earlier, Circle CEO Jeremy Allaire did not rule out the US losing its leading position in the sector in favor of the EU, Hong Kong and the UAE.

The head of Ripple, Brad Garlinghouse, complained that the United States is far behind the UAE and the European Union in the field of regulation of digital assets and recommended not to open a business in the states.

Some of the world’s largest market makers Jane Street and Jump Trading will stop trading digital assets in the US amid regulatory uncertainty. About this, with reference to informed sources, writes Bloomberg.

Jane Street will reduce the scale of crypto transactions globally as the lack of supervisory certainty will make it difficult to conduct business in accordance with internal standards.

Jump Crypto, a subsidiary of Jump Trading, will stop digital asset trading in the US, but expand it in other jurisdictions.

Bloomberg noted that representatives of Jane Street and Jump Crypto were questioned by the US Attorney’s Office as part of an investigation into the collapse of the Terra ecosystem. The last market maker was the main venture investor in Terraform Labs. Investigators did not press charges.

Jane Street was named among the three American companies mentioned CFTC in a lawsuit against Binance as those US customers who were able to access the international platform despite the promise not to do so. The regulator also did not press charges.

FTX founder Sam Bankman-Fried worked at Jane Street before founding the platform. Caroline Ellison, who headed Alameda Research, had the same line on her resume.

In May, Gemini and Coinbase launched exchanges abroad. The latter allowed the creation of an international hub in the UAE.

Earlier, Circle CEO Jeremy Allaire did not rule out the US losing its leading position in the sector in favor of the EU, Hong Kong and the UAE.

The head of Ripple, Brad Garlinghouse, complained that the United States is far behind the UAE and the European Union in the field of regulation of digital assets and recommended not to open a business in the states.