Flowdesk CEO: U.S. still needs to simplify and globally harmonize custody regulatory framework to unlock business potential

Crypto market maker Flowdesk bucked the trend when the Securities Exchange Commission (SEC) launched a full-scale crackdown on the crypto industry to expand its business in the United States. Today, this strategy has paid off, with the approval of Bitcoin ETFs in the United States, the expected launch of an Ethereum ETF, and legislation to support cryptocurrencies being considered in the Senate.
Flowdesk CEO Guilhem Chaumont said that despite the regulatory challenges, the size and potential of the US market remain attractive. The company expanded its US team in 2023 and now has a significant market share, with significant increases in profits and transaction volume. Despite the improved market environment, Chaumont pointed out that the US still needs to simplify and harmonize the global custody regulatory framework, similar to the European Union MiCA regulations, to unlock business potential.