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Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev on Wednesday urged the U.S. to take the lead on cryptocurrency policy, citing the unavailability of staking and tokenized stocks in certain regions due to legislative hurdles.
In an X post, Tenev pointed out that staking is one of the “most requested features” on Robinhood, but is unavailable in some jurisdictions due to legislative “gridlock.”
Staking on Robinhood is currently not available in California, Maryland, New Jersey and Wisconsin due to state regulations.
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Tenev further rued that tokenized stocks are accessible to Robinhood’s European customers, but not to those in the home market.
Staking is one of the most requested features on @RobinhoodApp, but it’s still unavailable to customers in four U.S. states due to the current gridlock. Stock Tokens are available to our customers in the EU, but not in our home market.
It’s time for the US to lead on crypto…
“It’s time for the U.S. to lead on crypto policy. Let’s pass legislation that protects consumers and unlocks innovation for everyone,” Tenev stated.
He also voiced his support for Congress’s efforts to pass the cryptocurrency market structure bill, while acknowledging that there is still work to be done.
See Also: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
Tenev’s remarks coincided with the Senate Banking Committee delaying the markup of cryptocurrency market structure legislation after longtime proponent Coinbase Global Inc. (NASDAQ:COIN) said it will not support the current version of the bill.
Senate Banking Committee Chair Sen. Tim Scott (R-S.C.) said that the committee is taking a “brief pause” but reiterated that all stakeholders involved are “working in good faith.”
Photo Courtesy: Sergei Elagin On Shutterstock.com
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This article Robinhood CEO Vlad Tenev Expresses Frustration Over ‘Legislative Gridlock’ As Crypto Market Structure Bill Gets Delayed Again originally appeared on Benzinga.com
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