Robinhood, the commission-free trading platform, has expanded its crypto trading services to customers in the European Union (EU). This move comes as the EU has been working on a regulation called MiCA (Markets in Crypto-Assets) since last year. MiCA requires crypto companies to register with national regulators in order to serve EU customers. It also aims to create a regulatory framework that encourages large companies like Robinhood to operate in the EU without fear of persecution.
Robinhood’s General Manager of Robinhood Crypto, Johann Kerbrat, justified the company’s decision to expand into Europe by highlighting the EU’s comprehensive policies for crypto asset regulation. The EU’s regulatory environment, which allows crypto companies to have on- and off-ramps in both private and public banks without facing questioning or persecution, makes it an attractive choice for Robinhood’s international expansion plans.
Robinhood’s expansion into Europe is not surprising, considering the negative regulatory environment for crypto firms in the US. With the potential for a uniform regulatory framework in the EU and a more open and friendly attitude towards the virtual asset industry compared to the US, Europe presents a strategic opportunity for Robinhood’s growth.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Johann Kerbrat |
| Companies | Robinhood, MiCA, Robinhood Crypto, EU |
| Currencies | Litecoin, Bitcoin, Dogecoin, Ethereum |
| Securities | None |
