Michaela Alvez
Robinhood CEO Vlad Tenev has criticized the UK government’s cryptocurrency policies, comparing them unfavorably to the country’s regulations on gambling.
In an interview with The Times, Tenev argued that people should have the freedom to make their own trading decisions despite concerns over crypto addiction. He also questioned why crypto trading faces stricter scrutiny while gambling remains less regulated.
“I think people should be allowed to do what they want,” Tenev said. “But on a policy level, it’s just strange to me that, like: ‘the gambling will continue, but suddenly, with crypto and margin trading, we would have a problem with that.’ That just seems backwards to me.”
Tenev’s comments were in response to remarks by NHS chief Amanda Pritchard, who highlighted the rising number of young men seeking treatment for Bitcoin trading addiction. Pritchard called for stricter regulations on crypto platforms to mitigate potential harm.
Robinhood Seeks UK Expansion
In the same interview, Tenev expressed his ambition to expand Robinhood’s services in the UK, viewing it as a key market. The company launched its stock trading platform in the UK last year and, more recently, introduced margin trading. This feature allows users to borrow funds from Robinhood to amplify their investment potential.
When asked if concerns over UK crypto regulations might impact Robinhood’s growth, Tenev stated he was not concerned. He emphasized that the UK’s approach to crypto seemed “backward.”
The British government is reportedly taking steps to address the growing influence of the crypto industry, which has aligned itself with some of the policies from Donald Trump’s US administration. New regulatory measures are expected to be unveiled this month, focusing on areas such as stablecoins and crypto staking, with the aim of tightening oversight in the sector.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
