The CEO of Robinhood, Vladimir Tenev, has disclosed that the United States is finally providing crypto some room to breathe.
It has been years since there has been tight regulation and unclear rules. Things are finally looking better for crypto firms. In a sit-down interview with Crypto in America, Tenev stated it was a “rebirth” and said the tide has shifted in the direction of US firms that had slipped behind other nations.
He attributes this reversal to shifting political sentiment and the way regulators are now approaching crypto-related issues.
Crypto-related revenue doubled in 2024 to the previous year, according to Robinhood. That’s up 100%. Tenev says this isn’t unexpected. Trading activity has increased, and he attributes that increase to a less combative approach by US regulators.
The new administration has decelerated enforcement activities and is providing crypto companies more room to evolve without fear of precipitous legal confrontation.
That investigation began after the SEC sent a Wells Notice in May 2024, which indicated potential violations related to Robinhood’s cryptocurrency services.
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Robinhood CEO states that crypto in America has been intentionally suppressed by the previous administration and now it’s in the “rebirth” phase.
Robinhood pushed back by claiming that it had always tried to comply with the rules and had sought guidance from the SEC. The legal team of the company claimed that their numerous attempts to reach out to the agency were ignored. Ultimately, the SEC closed the case without imposing any penalties.
Despite the recent change, Tenev asserts that the crypto sector requires clear legislation. He is of the opinion that although the tone from Washington is now better, the absence of concrete legislation continues to bring uncertainty.
In his view, most companies already know the space well, but official legal certainty would be a long way to making more firms and investors confident.
According to Tenev, a more welcoming environment is persuading some reluctant businesses to return to the market. But without formal guidelines, there’s always the possibility that regulators might change direction again.
United States President Donald Trump has also established his stance. He said crypto is important for America’s economy and threatened that the nation might lag behind China if action isn’t taken soon.
Featured image from Gemini Imagen, chart from TradingView
