I saw a video clip of Vlad Tenev, the CEO of Robinhood talking about his company’s advocate for customers. According to him it is not fair that individuals in America cannot easily get cryptocurrencies. This caught my attention because I use Robinhood for trading and I have been curious about crypto too.
According to Tenev, Robinhood had a lot of growth in terms of cryptocurrency trading in the first three months of this year. This is an indication that many people, including myself, are interested in crypto. But then he went on to talk about how Robinhood had some trouble with the SEC regarding their crypto plans. They met with the SEC many times but things didn’t go as they hoped. Eventually, though, the SEC hinted that it could take legal actions against Robinhood for alleged securities violations.
It bothers me how divisive this has become between Robinhood and the SEC. Tenev said that they tried to make a legitimate way to trade crypto assets; however, it seems like the Securities Exchange Commission did not see it that way either. He also mentioned that the rules could be changed by SEC so as brokers like Robinhood would offer such trading easily but they have not done so till now.
I must say that I am in agreement with Tenev’s frustration concerning the SEC’s approach. The Security and Exchange Commission seems to be more interested in the enforcement of regulations rather than finding solutions that may benefit people like me who want to venture into crypto. This is where my gratitude for Robinhood lies: it has always fought for its customers, including myself, by asking for a simplified entry into cryptocurrencies.
In my view, Cryptocurrency is growing in significance and there should be no Americans left out from enjoying its benefits as others. I also think that anyone who wants to can invest in crypto and regulators should facilitate this instead of making it harder.
Generally, I back Robinhood and Tenev in their endeavours towards easy access to crypto assets. Hopefully regulators such as the SEC will see the advantages of allowing greater access to crypto assets among all US citizens. It is time we embraced the future of finance and gave everyone a chance to participate.
Posted Using InLeo Alpha
Congratulations @iammystical! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 1750 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP