What We’ve Seen

Digital asset market participants in the U.S. (Robinhood included) currently face a patchwork of inconsistent state regulatory frameworks and a lack of regulatory clarity at the federal level.

• Our goal is to provide our customers with digital assets and products in compliance with applicable state and federal regulations, in a way that is consistent with our Safety-First value.

The lack of federal regulatory clarity has created an unlevel playing field for market participants, hindering the broader adoption of digital asset products and services in the U.S. Notably, there is no clear guidance on which digital assets the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) deem securities vs. commodities, and it’s unclear how crypto platforms and digital asset securities can be appropriately registered under federal securities laws. Simply put, there’s a world of confusion around crypto, and we’re taking an active role in putting things in order.

What should be done?

Congress and federal regulators should provide more clarity around the regulation of digital assets. We look to support policy solutions that bolster U.S. competitiveness, and we recognize that financial innovation, including in the marketplace for digital assets, should be enjoyed equitably.  That is why we have supported a discussion draft of legislation issued by the House Financial Services Committee and the House Agriculture Committee which would provide a legal framework for digital asset regulation intended to provide clarity, fill regulatory gaps, and foster innovation, while also providing important consumer protections.

We believe crypto is more than just an asset class and intend to work with regulators and policymakers on defining smart, tailored policies that strike a careful balance between ensuring investors are afforded adequate protections and at the same time allow for growth, access, choice and innovation. Learn more about Crypto at Robinhood here.

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