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Robinhood enters EU crypto market, embracing regulatory clarity

EU regulatory framework propels Robinhood's crypto expansion.

Robinhood enters EU crypto market, embracing regulatory clarity

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Robinhood has expanded its crypto trading services to European Union (EU) customers. The platform, known for its commission-free trading, will enable EU users to trade over 25 cryptocurrencies.

Robinhood’s expansion into Europe comes at an interesting time, given that the EU has been working on a regulation since last year known as the MiCA (Markets in Crypto-Assets) regulation. Under MiCa, crypto companies must register with national regulators to serve EU customers. The regulation also seeks to provide incentives for large companies like Robinhood to operate in that jurisdiction without fear of persecution.

Johann Kerbrat, GM of Robinhood Crypto justified the company’s choice by stating in their blog post, 

“The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”  

A key aspect of MiCA is to enable crypto companies to have on- and off-ramps in both private and public banks without facing questioning or persecution, allowing these companies to use banking services without the risk of being denied solely for providing virtual asset services.

It’s not surprising that Robinhood, a US-based company facing a negative regulatory environment in the US for crypto firms, has decided to expand its operations into Europe. With its potential for a uniform regulatory framework in the coming years and a seemingly more open and friendly attitude towards the virtual asset industry compared to the US, this becomes an appealing choice for Robinhood’s strategic expansion.

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