European cryptocurrency investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as the firm enters the new market.
On Sept. 22, CoinShares officially announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time the firm has introduced its offerings to qualified U.S. investors.
CoinShares’ entrance into the U.S. market comes at a time when many U.S. crypto firms are looking to expand their businesses outside the country due to regulatory hurdles at home. One such firm, cryptocurrency exchange Coinbase, has been actively pushing its expansion in Europe and the United Kingdom amid a lawsuit from the U.S. Securities and Exchange Commission over allegedly violating of securities laws.
Many crypto industry observers and participants have claimed that the U.S. government’s approach to crypto regulation has been making the country “less attractive” for crypto firms.
But unlike many U.S. crypto regulation critics, CoinShares believes that the U.S. is a global leader in terms of digital asset development, a spokesperson for CoinShares told Cointelegraph, stating:
“Contrary to the belief that the U.S. lags in crypto adoption and regulation, our perspective is shaped by the U.S. regulators’ approach to treating digital assets akin to traditional asset classes. This stance, we believe, will encourage and expedite the fusion of the two industries.”
CoinShares’ representative went on to say that the U.S. is home to 50% of globally managed assets and is a dominant financial market. “Our assertion on its leadership in the digital assets space is influenced by observable integrations between legacy and emerging financial players,” the spokesperson said, citing industry collaborations of BlackRock with Circle and Coinbase.
The expansion of CoinShares in the U.S. comes just a few months after CEO Jean-Marie Mognetti declared in July 2023 that Europe’s approach to crypto has been “even more problematic when compared to the financial might of U.S. institutions.”
“These financial behemoths — such as BlackRock and Fidelity, who…