Jane Street and Jump Crypto, top market-making firms in the crypto market, are leaving behind trading activities in the US market as the local industry got no regulatory clarity so far, Bloomberg has learned, citing people familiar with the matter.
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The report notes Jane Street also scaled back international ambitions, as the firm can't meet internal standards with the current regulatory environment. Jump Crypto in turn will continue its operations globally.
In April, iHodl reported that Jane Street appeared to be among three unnamed US-based VIP clients of Binance mentioned in a US watchdog's lawsuit against the exchange. Reports say the three firms used offshore entities to trade on Binance. However, the Commodity Futures Trading Commission (CFTC) didn't accuse the firms of any wrongdoing.
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