According to Jake Chervinsky on Twitter, US securities and derivatives are subject to the same stringent regulations onchain as offchain, and their legal status has not changed under the Biden administration (source: Jake Chervinsky, Twitter, May 23, 2025). Chervinsky warns traders that despite frequent headlines about these products 'coming soon' to the US market, they remain illegal and are unlikely to launch. This persistent regulatory environment means crypto traders should not expect new onchain securities or derivatives offerings in the near future, maintaining the current trading landscape and limiting access to these instruments.