‘It’s Important That We Get a Bit More Clarity From Regulators’ – Regulation Bitcoin News


Robinhood’s chief monetary officer has revealed the favored buying and selling platform’s crypto precedence and the potential of itemizing extra cryptocurrencies. “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasised.

Robinhood Waiting for Regulatory Clarity

The chief monetary officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency throughout The Wall Street Journal’s digital CFO Network Summit final week.

Commenting on retail traders’ excessive demand for Robinhood to checklist extra cryptocurrencies, notably the meme crypto shiba inu (SHIB), Warnick emphasised, “It’s not lost on us that our customers and others would like to see us add more coins.” However, the Robinhood govt confused:

We’re a extremely regulated firm in a extremely regulated trade, and we predict it’s vital that we get a bit extra readability from regulators.

Compliance is a high precedence at Robinhood. In December final 12 months, the corporate partnered with blockchain information platform Chainalysis to satisfy compliance necessities.

Supporters of the shiba inu cryptocurrency have been petitioning on Change.org for Robinhood to checklist SHIB. At the time of writing, 555,811 individuals have signed the petition.

Christine Brown, Robinhood Crypto’s chief working officer and VP of Product Operations, mentioned in November that the platform is in no hurry to checklist any further cryptocurrencies. Her assertion was in response to a query about when SHIB shall be listed.

Robinhood Crypto at present helps the shopping for, promoting, and real-time market information for bitcoin (BTC), bitcoin money (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum traditional (ETC), and litecoin (LTC).

Warnick additionally clarified on the summit that Robinhood won’t be shopping for cryptocurrency for its company treasury like some corporations have accomplished, corresponding to Microstrategy and Tesla. He defined:

There aren’t compelling causes strategically for our enterprise to place any significant quantity of our company money into cryptocurrencies.

In December final 12 months, Robinhood launched a cryptocurrency present program. The firm additionally introduced the upcoming beta launch of its cryptocurrency wallets, which has a waitlist of 1.6 million individuals.

What do you consider the Robinhood govt’s feedback? Let us know within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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