Robinhood CEO Vlad Tenev reaffirms support for crypto market structure bill amid delay

Robinhood CEO Vlad Tenev publicly reaffirmed his support for the pending U.S. crypto market structure legislation, emphasizing the need for the U.S. to lead on crypto policy, even as progress has stalled due to bipartisan negotiations and industry disagreements.

Tenev noted that products like staking and stock tokens are restricted on Robinhood due to regulatory uncertainty, stating his company is ready to help the Senate Banking Committee and GOP secure the bill's passage. The legislation aims to create a clear regulatory framework, dividing oversight between the SEC and CFTC.

This reaffirmation comes after the Senate Banking Committee postponed its scheduled markup session, following Coinbase's withdrawal of support over concerns about a "de facto ban" on tokenized equities and restrictions on DeFi and stablecoin rewards. Despite this setback, other industry leaders like Ripple CEO Brad Garlinghouse remain committed to resolving the issues during the markup process.

(Source：The Block)