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

Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more 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 emphasized.

Robinhood is waiting for regulatory clarity

The chief financial officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency during The Wall Street Journal’s virtual CFO Network Summit last week.

Commenting on retail investors’ high demand for Robinhood to list more cryptocurrencies, particularly the meme crypto shiba inu (SHIB), Warnick emphasized, “It’s not lost on us that our customers and others would like to see us add more coins.” However, the Robinhood executive stressed:

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.

Robinhood places compliance at the top of its priorities. The company has partnered with Chainalysis blockchain data platform in December 2017 to comply with compliance requirements.

Shiba Inu supporters have petitioned Change.org to ask Robinhood for SHIB listing. As of this writing, the petition had been signed by 555 811 people.

Christine Brown, Robinhood Crypto’s chief operating officer and VP of Product Operations, said in November that the platform is in no hurry to list any additional cryptocurrencies. She was responding to a query about the listing of SHIB.

Robinhood Crypto supports current trading and buying of bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin sv(BSV), Dogecoin [DOGE], ethereum Classic (ETC), and Lightcoin (LTC)

Warnick clarified that Robinhood would not purchase cryptocurrency to fund its corporate treasury, as some other companies like Microstrategy or Tesla have. He explained:

There aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies.

Robinhood introduced a crypto gift program in December 2017. Robinhood also revealed the beta launch of their cryptocurrency wallets. There is currently a waiting list of over 1.6 million.

What do you think about the Robinhood executive’s comments? Please leave your comments below.

Kevin Helms

Kevin, a student of Austrian Economics and evangelist since 2011, discovered Bitcoin. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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