Robinhood CEO Highlights Lagging US Crypto Regulations Amid Staking Restrictions in Four States While EU Advances

Robinhood's CEO, Vlad Tenev, has expressed his concerns regarding the sluggish advancement of crypto regulations in the United States. He noted the absence of crypto staking options in four states, contrasting this with the European Union’s progress in tokenized stocks. In a social media discussion, Tenev emphasized that staking is a highly desired feature among Robinhood users. However, the company is unable to satisfy this demand in California, Maryland, New Jersey, and Wisconsin due to regulatory standstill. He further stated that the U.S. must enhance its digital asset oversight, advocating for legislation that safeguards consumers and fosters innovation. Tenev expressed support for Congress’s efforts to pass the market structure bill, acknowledging the remaining challenges but noting that progress is possible. His comments arise as the Senate Banking Committee has recently delayed further discussions on the proposed crypto market structure bill, which aims to clarify the classification of cryptocurrencies. Other industry leaders, including Coinbase CEO Brian Armstrong, have also voiced concerns over potential overregulation stemming from the bill. Meanwhile, staking services in the U.S. face restrictions due to ongoing litigation, while the EU continues to advance with its Markets in Crypto-Assets (MiCA) regulations, enabling more comprehensive offerings like tokenized stocks.