Regulatory Pressure Might Make Jane Street and Jump Crypto Leave US
Two of the world’s largest market makers, Jane Street and Jump Trading, have decided to cease digital asset trading in the US due to regulatory uncertainties.
Jane Street is reducing their crypto trades on a global scale, believing that the lack of regulation will make it hard to stick to their internal policies.
Meanwhile, Jump Crypto, a subsidiary of Jump Trading, will halt operations in the US, but increase them in other places. The US Attorney’s Office has interrogated both Jane Street and Jump Crypto in relation to the downfall of Terra ecosystem.
Although no charges have been made, the Commodity Futures Trading Commission (CFTC) previously named Jane Street, alongside two other US-based companies, for being able to access the international Binance platform even though it had promised not to.
Again, no charges were pressed. Furthermore, FTX CEO Sam Bankman-Fried worked at Jane Street before creating the platform, and Caroline Ellison, the leader at Alameda Research, had the same job at the market maker before her.
