{"id":1391,"date":"2024-11-20T08:37:41","date_gmt":"2024-11-20T09:37:41","guid":{"rendered":"http:\/\/buckinghamshire-removals.co.uk\/?p=1391"},"modified":"2024-11-21T15:03:11","modified_gmt":"2024-11-21T15:03:11","slug":"robinhood-ceo-says-uks-crypto-rules-backward-considering-mature-gambling-market","status":"publish","type":"post","link":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/2024\/11\/20\/robinhood-ceo-says-uks-crypto-rules-backward-considering-mature-gambling-market\/","title":{"rendered":"Robinhood CEO Says UK\u2019s Crypto Rules \u201cBackward\u201d Considering Mature Gambling Market\u00a0"},"content":{"rendered":"
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Crypto stance criticized<\/h2>\n

The CEO of US-based stock trading platform Robinhood has accused the UK of being \u201cbackward\u201d in its regulatory stance on cryptocurrency given the country\u2019s mature gambling market.<\/p>\n

Vlad Tenev believes the UK\u2019s stringent regulatory approach to cryptocurrency is at odds with how gambling is thriving in the country courtesy of more lenient regulations.\u00a0<\/p>\n

The Robinhood exec\u2019s British focus comes after he told The Times <\/em>recently that he plans to launch his brand in the UK.\u00a0<\/p>\n

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Tenev is openly challenging the rules at policy level<\/p>\n<\/blockquote>\n

Instead of being daunted by the regulatory challenges facing his crypto firm, Tenev is openly challenging the rules at policy level, stating: \u201cRestricting crypto and margin trading while allowing widespread gambling doesn\u2019t make sense.\u201d<\/p>\n

Bigger than the US<\/h2>\n

According to media reports, Robinhood has already rolled out its share and margin trading to UK customers, within Tenev stating it was \u201cpretty clear that [British] customers love the product.\u201d<\/a><\/p>\n

Nevertheless, the exec believes UK\u2019s stance on crypto limits consumer choice and stifles innovation. Openly criticizing UK policy, Tenev said it was \u201cstrange\u201d for gambling to continue while authorities have \u201ca problem\u201d with crypto and margin trading. He added:<\/p>\n

\n

That just seems backwards to me.\u201d<\/p>\n<\/blockquote>\n

Tenev added British customers \u201cshould be allowed to do what they want with their money.\u201d <\/p>\n

The Robinhood boss also expressed his surprise at \u201chow much bigger\u201d gambling was across the pond compared to the US. Referencing a trip to the UK, the CEO stated \u201cyou can almost go into every street corner and sit down and gamble on sports.\u201d <\/p>\n

The UK\u2019s Financial Conduct Authority (FCA)\u2019s hard-nosed approach to crypto is because it fears the digital currency being used for illegal activities such as organized crime and terrorism financing.<\/p>\n

According to bravenewcoin.com, \u201cover 87% of crypto registration attempts in the UK have been rejected, withdrawn, or denied by regulators.\u201d<\/a><\/p>\n

Winds of change<\/h2>\n

The contrast with the US couldn\u2019t be bigger since Donald Trump returned to power, with individual billionaires with crypto interests donating millions to secure Trump\u2019s second term. <\/p>\n

In response, since returning to the White House, Trump\u2019s social media firm is reportedly mulling a deal to buy crypto trading firm Bakkt, while on Monday, the President held a meeting with Coinbase CEO Brian Armstrong. <\/p>\n

As crypto market leader Bitcoin hit another record high on Tuesday to add to a series of highs since Trump\u2019s return to the helm, it remains to be seen how these fresh winds of change will affect UK policy. <\/p>\n

The post Robinhood CEO Says UK\u2019s Crypto Rules \u201cBackward\u201d Considering Mature Gambling Market\u00a0<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto stance criticized The CEO of US-based stock trading platform Robinhood has accused the UK of being \u201cbackward\u201d in its regulatory stance on cryptocurrency given the country\u2019s mature gambling market. Vlad Tenev believes the UK\u2019s stringent regulatory approach to cryptocurrency is at odds with how […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1391"}],"collection":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1391"}],"version-history":[{"count":1,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1391\/revisions"}],"predecessor-version":[{"id":1392,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1391\/revisions\/1392"}],"wp:attachment":[{"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1391"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/buckinghamshire-removals.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}