Robinhood CEO Vladimir Tenev has described the present state of crypto in the US as a “rebirth,” signaling a turning level after years of regulatory pressure.
Tenev shared this attitude in an interview hosted by Crypto in America. He believes the U.S. is now starting to reverse its earlier stance and catch as much as world markets that moved forward whereas American corporations confronted heightened scrutiny.
He attributed this shift to modifications within the political setting and a extra constructive regulatory method, which has already fueled a resurgence in buying and selling volumes and optimism throughout the sector.
This attitude comes as Robinhood reported a 100% year-over-year improve in crypto-related income throughout 2024. In keeping with Tenev, this development isn’t surprising and follows a broader surge in digital asset exercise that started in late 2024.
He linked this momentum to what he described as a friendlier posture from the present U.S. administration, which has slowed enforcement actions and created extra respiration room for corporations working within the area.
They Tried to Make Crypto Go Away
Crypto has confronted regulatory hostility within the U.S. for years, notably below the earlier administration, which, Tenev claims, tried to “make it go away.”
Now, regulatory enforcement actions have slowed. The SEC has dismissed preliminary inquiries concentrating on U.S.-based corporations like Robinhood.
This variation has improved business sentiment and restored confidence, encouraging even hesitant corporations to start participating with crypto. Tenev additionally burdened the necessity for clear laws to solidify what the business already understands about crypto and construct broader confidence.
SEC Concludes Robinhood Investigation
On February 21, the SEC’s Enforcement Division knowledgeable Robinhood that no enforcement motion can be pursued. The announcement adopted a Wells Discover issued in Could 2024, which had signaled potential violations of securities legal guidelines related to Robinhood’s crypto choices.
Regardless of the probe, Robinhood constantly acknowledged that it remained compliant and had sought steerage from regulators. Its authorized representatives additionally argued that repeated efforts to interact with the SEC had gone unanswered.
Trump’s Help for U.S.-Primarily based Crypto Innovation
In the meantime, President Donald Trump has reaffirmed his assist for cryptocurrency, stating that the sector stays essential to American competitiveness.
In a current interview, he warned that the U.S. dangers falling behind international locations like China if it doesn’t take motion to retain crypto innovation domestically. Trump emphasised that crypto, whereas nonetheless early in its growth, has demonstrated appreciable power throughout current market fluctuations.
He highlighted Bitcoin’s resilience throughout current financial uncertainty, arguing that digital property had outperformed different sectors, together with U.S. shares. Trump additionally addressed hypothesis relating to private monetary beneficial properties tied to crypto.
