Jane Street Group and Jump Crypto, two of the world’s largest market makers, are withdrawing from digital asset trading in the US due to regulatory pressure on the industry.
According to a source familiar with the matter, Jane Street is globally slated for as regulatory uncertainty in the US makes it difficult for the firm to operate to meet its internal standards. cryptocurrency it takes an even more comprehensive step by reducing its targets.
Two sources familiar with the matter said that Jump Trading’s digital assets unit, Jump Crypto, was also withdrawing from the US market for the same reason, but expanding internationally.
Sources said that companies have not completely abandoned crypto, albeit on a smaller scale.
Jane Street was among three US quant-trading firms that were anonymously cited in a lawsuit filed by the Commodity Futures Trading Commission (CFTC) against Binance Holdings as an example of how US-based clients were able to access the platform despite Binance’s promises to exclude them.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!