Gate Expands Cryptocurrency Trading Services to the United States
Recently, the renowned cryptocurrency exchange Gate revealed its strategic decision to launch spot trading services in the United States. Established in 2013, this trading platform is now extending its services to U.S. customers for the very first time, marking a significant milestone in its expansion journey.
Gate Joins the Growing Movement of Crypto Firms Entering the U.S. Market
On August 1, Gate made an official announcement through a press release, stating that it has commenced operations in the United States. The company emphasized that its spot trading services have been specifically tailored to cater to the diverse needs of U.S. customers by offering a vast selection of popular digital assets.
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This strategic move by Gate is noteworthy, particularly in light of the ongoing efforts by U.S. authorities to provide clarity and introduce new regulations within the cryptocurrency sector. A notable legislative development in this context was the signing of the GENIUS Act, the first crypto bill, into law by former President Donald Trump.
Lin Han Highlights Gate’s Commitment to Global Compliance
Lin Han, the founder of Gate, commented on this development, stating, “The launch of Gate US represents a pivotal achievement in our strategy to ensure global compliance and deliver localized services. We are convinced that the future of the cryptocurrency industry hinges on a deep integration with local markets. Gate Group is dedicated to constructing a reliable global crypto service network driven by technological innovation and centered on user satisfaction.”
Gate is not alone in its endeavor to enter the U.S. market. Numerous digital asset firms have also made similar moves recently. Notably, cryptocurrency exchange OKX reentered the U.S. market after securing a substantial $505 million settlement with the U.S. Department of Justice. Additionally, OKX is reportedly exploring the possibility of an initial public offering (IPO) in the U.S.
According to data from CoinGecko, Gate’s trading volume experienced a noticeable decline of over 11% in the past 24 hours, dropping to approximately $5.82 billion. This decrease in trading activity correlates with reduced investor engagement amid falling asset prices in the market.
SEC Chair Advocates for Reshoring of Crypto Firms
The recent influx and reentry of cryptocurrency entities into the U.S. market underscore the positive impact of introducing clear and transparent regulations. In a recent interview, SEC Chair Paul Atkins emphasized the importance of “reshoring the crypto businesses that departed” due to previous regulatory ambiguities.
Meanwhile, U.S. Treasury Secretary Scott Bessent remarked that the country is experiencing a “golden age of crypto,” as the administration seeks to harness the potential of blockchain technology. Bessent encouraged entrepreneurs, saying, “Start your companies here. Launch your protocols here. And hire your workers here.”
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