Robinhood CEO Vlad Tenev has slammed U.S. crypto regulation as four states still block staking while the European Union races ahead with tokenized stocks.
At a Glance
- Robinhood users in California, Maryland, New Jersey, and Wisconsin cannot access staking
- Senate Banking Committee just postponed markup of the crypto market structure bill
- EU’s MiCA rules already let Robinhood offer tokenized equities
- Why it matters: U.S. customers miss revenue and innovation available overseas
Tenev took to social media to voice his frustration, calling staking “one of the most sought-after features” on the platform. He blamed “the current gridlock” for keeping the service offline in the four states.
Stuck at the State Level
Robinhood faces state-level enforcement because regulators claim its staking product is an unregistered security. California, Maryland, New Jersey, and Wisconsin have all opened cases, forcing Robinhood to suspend staking there.
Coinbase faces the same allegations; CEO Brian Armstrong has already withdrawn support for the Senate bill, arguing it favors traditional finance and over-regulates decentralized platforms.
Senate Delays Federal Fix
The Senate Banking Committee shelved its planned markup of the crypto market structure bill. The draft law would:
- Define when a token is a security or commodity
- Split oversight between the SEC and CFTC
- Set nationwide rules for staking, lending, and stablecoins
- Create registration paths for exchanges and DeFi platforms
Tenev urged Congress to revive the effort. “It’s time for the US to lead on crypto policy,” he wrote, adding that clear rules would “protect consumers and unlock innovation for everyone.”
Europe Moves First
While Washington stalls, the EU’s Markets in Crypto-Assets (MiCA) regulation is already live. The uniform framework lets platforms offer complex products across all member states.
Robinhood has seized the opportunity, rolling out tokenized stocks in Europe. Tenev previously called the product “the most significant innovation in capital markets in over a decade.”
Key Takeaways
- Four U.S. states still block Robinhood staking amid securities claims
- Senate committee just punted on federal crypto legislation
- EU’s MiCA rules let Robinhood offer tokenized equities now
- Without federal clarity, U.S. users lose access to features available abroad
