I would advise US citizens looking to enter the crypto market from an institutional standpoint to consider setting up an offshore decentralized exchange that does not cater to US citizens. This option allows for a lower cost of entry. However, it is important to note that outdated government regulations in the US restrict the range of services that such an exchange can offer, including peer-to-peer lending. This limitation directly impacts the potential earnings from transaction and service fees. Once the offshore exchange becomes profitable, it may be worth considering the establishment of a separate website specifically for US customers, focusing solely on trading capabilities.

Overall, it is essential to recognize that starting a crypto exchange in the US will require a minimum investment that is four times higher compared to countries with more lenient regulations, like Cyprus.

To help you get started, here are some useful links:
https://complyadvantage.com/insights/cryptocurrency-regulations-around-world/
How to start the cryptocurrency exchange easily: https://www.alphacodez.com/binance-clone-script