Nikolas Sargeant
Robinhood Markets CEO Vlad Tenev has urged US lawmakers to establish clear cryptocurrency regulatory frameworks, highlighting that staking services remain unavailable to customers in four states despite being among the platform's most requested features.
Tenev stated on X on January 15 that staking continues to rank as one of the most sought-after features among Robinhood users, yet the service remains inaccessible to customers in California, Maryland, New Jersey, and Wisconsin "due to the current gridlock." The CEO also noted that stock tokens are available to Robinhood customers in the European Union but not in the company's home market.
"Time for the US to Lead on Crypto Policy," Tenev emphasized, calling for clear legislation that protects consumers while unlocking innovation. "We support Congress's efforts to pass the market structure bill," he stated, adding that significant work remains to finalize comprehensive regulations.
"But we see a path and are here to help the U.S. Senate Banking Committee GOP and the Senate Banking and Housing Democrats get it over the line," Tenev wrote, offering Robinhood's assistance in advancing the legislation.
The CEO's comments arrive amid ongoing discussions about comprehensive cryptocurrency regulation in the United States. On Wednesday, the Senate Banking Committee postponed its planned markup of a comprehensive crypto market structure bill designed to define when crypto tokens qualify as securities, commodities, or other asset classes, providing the industry with long-sought legal clarity.
The markup delay came hours after Coinbase withdrew support for the bill's latest version. Coinbase CEO Brian Armstrong flagged "too many issues," including what he characterized as a de facto ban on tokenized equities, decentralized finance prohibitions, and amendments that would eliminate rewards on stablecoins.
Robinhood's staking limitations in four states reflect ongoing regulatory uncertainty at both state and federal levels. While some states have moved to establish clear frameworks for cryptocurrency services, others maintain restrictive approaches that prevent platforms from offering certain features to residents, creating a fragmented regulatory landscape across the country.
In a separate conversation with FOX Business, Tenev addressed concerns about artificial intelligence's impact on employment, arguing AI will drive new innovation and job creation rather than eliminate positions. "AI will lead to an explosion of not just new jobs, but new job families," he stated, suggesting technical disruption has historically reformed work patterns rather than eliminating employment entirely.
