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Robinhood’s CFO revealed the popular trading platform’s crypto priorities and the potential to list more cryptocurrencies. “We are a highly regulated company in a highly regulated industry and we think it’s important to get clearer information from regulators,” he stressed.
Robinhood awaits regulatory clarity
Robinhood’s chief financial officer (CFO) Jason Warnick spoke about cryptocurrencies at the Wall Street Journal’s virtual CFO Web Summit last week.
Commenting on the high demand from retail investors for Robinhood to list more cryptocurrencies, especially the meme crypto shiba inu (SHIB), Warnick emphasized: “Our customers and others would like to see us add more It’s not lost to us.” However, Robinhood executives emphasized:
We are a highly regulated company in a highly regulated industry and we believe it is important to get more clarity from regulators.
Compliance is a top priority for Robinhood.In December last year, the company cooperating Meet compliance requirements with blockchain data platform Chainalysis.
Supporters of the shiba inu cryptocurrency have been petitioning Robinhood on Change.org to list SHIB. At the time of writing, 555,811 people have signed the petition.
Christine Brown, COO and VP of Product Operations at Robinhood Crypto, Say In November, the platform was in no rush to list any other cryptocurrencies. Her statement was in response to a question about when SHIB will be listed.
Robinhood Crypto currently supports Bitcoin buying and selling and real-time market data (Bitcoin), Bitcoin Cash (BCH), Bitcoin sv (BSV), Dogecoin (DOGE), Ethereum (Ethereum), Ethereum Classic (etc) and Litecoin (LTC).
Warnick also clarified at the summit that Robinhood will not buy cryptocurrencies for its corporate finances like some companies like Microstrategy and Tesla. He explained:
There is no strategically compelling reason for our business to put any meaningful corporate cash into cryptocurrencies.
In December, Robinhood launched a Cryptocurrency Gift Program. The company also announced that its beta version is coming soon cryptocurrency wallet, which has a waitlist of 1.6 million people.
What do you think of the comments from Robinhood executives? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
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