SEC Chair Urges Crypto ‘Reshoring’ as Firms Return to US Amid Policy Shift

US Calls for Crypto ‘Reshoring’ as Businesses Scale Domestically Cryptocurrency companies are bringing operations back to the US as political support and regulatory clarity return. On Thursday, SEC Chair Paul Atkins called for the “reshoring” of crypto companies that had previously fled abroad amid regulatory uncertainty. The comments, delivered in a speech at the America First Policy Institute, followed a wider push by the Trump administration to make the US a top destination for digital assets. Treasury Secretary Scott Bessent reiterated the message a day later, proclaiming a “golden age of crypto” and welcoming global builders to base their operations in the US. International Companies Back in the US Market The policy shift is bearing fruit. Bulgaria-based Nexo re-entered the US market in April after several years’ absence, citing a more welcoming environment. Seychelles-based OKX restarted its US operations in June, choosing San Jose, California, as its new base following a $500 million settlement with regulators. Meanwhile, Chinese mining giant Bitmain announced that it would have an ASIC production facility in the US by 2026 and is opening a headquarters in either Florida or Texas. Competitors Canaan and MicroBT also have production supposedly coming stateside. Domestic Companies Scale Up Operations US-based Kraken and MoonPay companies are expanding domestically as well. Kraken relocated its worldwide headquarters to Cheyenne, Wyoming in June, naming the state’s digital asset-friendly stance as the reason. MoonPay introduced a new headquarters in New York in April and had obtained licensing in all 50 states by June, enabling it to scale operations nationwide. Policy Momentum Draws Industry Home Reshoring is symptomatic of a broader rebalancing of US crypto policy. Underpinned by pro-innovation rhetoric and tangible reforms, the federal government is signaling that digital asset companies are once again welcome. As top officials actively court growth, and industry responds with significant investments, the US is regaining its position as a global crypto hub.