Crypto Firms Return to the US Amid Government Push for Onshoring and Regulatory Clarity
As the United States federal government signals a renewed commitment to fostering domestic growth in the digital asset sector, several prominent cryptocurrency companies are returning to American soil or expanding their US operations. This trend aligns with a broader initiative under the Trump administration aimed at positioning the US as a global hub for crypto innovation through clearer regulations and supportive policies.
SEC Chair Paul Atkins, speaking at the America First Policy Institute on July 31, 2025, urged the industry to "reshore the crypto businesses that fled," underscoring the administration’s determination to attract crypto companies back to the US. Similarly, Treasury Secretary Scott Bessent declared that the country has entered a "golden age of crypto," encouraging entrepreneurs and developers to start their companies, launch protocols, and hire staff within the United States.
Responses from Crypto Industry Players
In response to these political endorsements and improving regulatory clarity, several international cryptocurrency firms have announced plans to either return or expand their presence in the US market:
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Nexo, a Bulgaria-based crypto lending and yield platform, officially reentered the US market on April 28 after a multi-year absence. Nexo cited enhanced regulatory clarity and a more constructive federal stance as key reasons for their return.
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Deribit, a derivatives exchange headquartered in the Netherlands, has confirmed it is exploring entry into the US marketplace, reflecting growing optimism about regulatory developments.
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Wintermute, a London algorithmic trading company and market maker, inaugurated a New York office in early May, signaling its intent to deepen ties with US clients and regulators.
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OKX, a Seychelles-registered centralized exchange, relaunched its US operations in June by opening a new headquarters in San Jose, California. This new chapter follows a $500 million settlement with US regulators and a strategic pivot toward domestic growth.
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Bitmain, a Beijing-based mining technology company, announced plans to open its first US ASIC production facility by early 2026. The firm is also set to establish a new headquarters in either Texas or Florida by the end of Q3 2025. This move aligns with recent reports indicating that Bitmain, along with Canaan and MicroBT, major players in global Bitcoin ASIC manufacturing, are shifting production to the US.
Domestic Expansion by Homegrown Firms
US-based companies are also expanding their domestic operations to leverage the favorable regulatory environment:
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Kraken, a major cryptocurrency exchange, relocated its global headquarters to Cheyenne, Wyoming, in June, attracted by the state’s pro-crypto legal framework.
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MoonPay, initially headquartered in Miami, opened a new headquarters in New York City in April. By June, MoonPay secured licenses to operate across all 50 states, marking a significant milestone for nationwide regulatory compliance.
Industry and Policy Implications
This gradual "reshoring" of crypto activities reflects the Trump administration’s pro-crypto agenda, which includes clearer legislation and a more predictable enforcement landscape. These changes aim to reduce regulatory uncertainty that had previously driven many companies offshore or limited their US activities.
The developments have been widely welcomed by industry leaders and investors, who view the US as a key market for innovation, investment, and talent acquisition. Enhanced domestic presence can also facilitate closer collaboration with regulators, potentially accelerating the establishment of a regulated yet innovation-friendly environment.
Looking Forward
With the US government emphasizing a strategic push to revive and expand the domestic digital asset ecosystem, the coming months are likely to see further announcements of crypto firms relocating or growing their US-based operations. The coordinated message from top officials—including SEC Chair Paul Atkins and Treasury Secretary Scott Bessent—signals that the country is positioning itself at the forefront of the global crypto economy.
As clearer rules and improved regulatory cooperation take hold, the US could well enter what Secretary Bessent termed a "golden age of crypto," securing its status as a leading destination for digital asset companies worldwide.
Sources: Statements by SEC Chair Paul Atkins and Treasury Secretary Scott Bessent; Corporate announcements from Nexo, Deribit, Wintermute, OKX, Bitmain, Kraken, and MoonPay.