U.S. Crypto Reshoring Gains Momentum Amid Favorable Policy Shifts

The U.S. is witnessing a notable return of crypto companies from overseas, driven by a more favorable regulatory environment and clear policy signals under the Trump administration [1]. High-level officials, including SEC Chair Paul Atkins and Treasury Secretary Scott Bessent, have actively encouraged the industry to "reshore" operations, positioning the U.S. as a global hub for digital assets [1]. These efforts are part of a broader strategy to reverse the trend of offshore relocations and to reinvigorate the American crypto market.

The impact of these policy shifts is already visible. Bulgaria’s Nexo has re-entered the U.S. market, citing improved regulatory clarity. Meanwhile, Seychelles-based OKX relaunched its U.S. operations in June, settling with regulators for $500 million and establishing a new headquarters in San Jose [1]. Chinese mining giant Bitmain is also making significant moves, with plans to build its first U.S. ASIC production facility by early 2026 and establish a headquarters in Texas or Florida [1]. Other firms, including Canaan, MicroBT, Deribit, and Wintermute, are either setting up or expanding operations in the U.S., reflecting a broader shift in the industry’s strategy.

U.S.-based companies are also expanding domestically. Kraken has relocated its global headquarters to Cheyenne, Wyoming, while MoonPay has secured licensing to operate in all 50 states and moved into a larger New York office [1]. These developments signal a growing confidence in the U.S. market, particularly as policymakers work to provide a stable and supportive environment for the industry.

The administration’s efforts are complemented by broader market dynamics. Bitcoin’s recent record high and the filing of a Solana ETF by Invesco Galaxy highlight the momentum building in the U.S. crypto space [5]. Analysts suggest that the combination of regulatory support and market optimism could position the U.S. as a global leader in digital asset development [1]. However, macroeconomic factors, including executive orders on crypto strategic reserves and rising tariffs, continue to influence market volatility [2]. For example, Bitcoin and Ethereum prices have shown sensitivity to these external pressures, even as the U.S. regulatory landscape improves [4].

The Office of the Comptroller of the Currency has also taken steps to support the industry, with new oversight powers over large nonbank stablecoin issuers [8]. This regulatory clarity is expected to encourage institutional participation, a key factor in the long-term growth of the sector. Additionally, World Liberty Financial, a firm with ties to the Trump administration, has been increasing its crypto holdings, signaling renewed confidence in the U.S. market [6].

Together, these developments indicate a strategic shift in the U.S. approach to digital assets. By combining policy clarity, political backing, and favorable market conditions, the administration is creating an environment conducive to innovation and investment. While challenges remain, the broader trend suggests that the U.S. is positioning itself to play a leading role in the global crypto landscape [1].