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Robinhood in Communication with European Regulators Regarding Tokenized Stocks
Summary: According to Bloomberg, Robinhood Markets Inc. CEO Vlad Tenev stated that the company is in communication with regulators regarding its tokenized stock products launched in Europe, which have faced criticism from companies including OpenAI. The California-based company announced last week that retail investors in the European Union can trade blockchain tokens representing U.S. stocks through ...
According to Bloomberg, Robinhood Markets Inc. CEO Vlad Tenev stated that the company is in communication with regulators regarding its tokenized stock products launched in Europe, which have faced criticism from companies including OpenAI.
The California-based company announced last week that retail investors in the European Union can trade blockchain tokens representing U.S. stocks through its app. This launch also includes tokens for privately held companies like OpenAI. However, OpenAI, led by Sam Altman, later reminded traders that these tokens do not represent ownership in the company.
The brokerage is facing inquiries from regulators, including the Bank of Lithuania, regarding the structure of these tokens and whether they blur the line between real equity and derivatives. The Bank of Lithuania has confirmed seeking details from Robinhood.
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