#BinanceTurns8

Robinhood's tokenized platform is facing scrutiny.

However, its launch has been subject to scrutiny. The Bank of Lithuania, which regulates Robinhood in the EU, has requested clarifications regarding the structure of the tokens. Tenev stated that the company welcomes the review.

"They want to ensure that everything is correct, as this is a new and innovative offering. We are confident. We believe that they are not only important but will withstand the most rigorous scrutiny," he stated.

The tokens are technically classified as derivatives under the Regulation on Markets in Crypto-Assets (MiCA) and the Directive on Markets in Financial Instruments (MiFID) of the EU. They are backed by underlying assets held by U.S. brokers, and the tokens are minted or burned as users buy or sell.

Tenev confirmed that the company is in talks with regulators in the United States and the United Kingdom, but the platform is not yet available in those markets. He stated that the U.S. Securities and Exchange Commission (SEC) may greenlight tokenization without the need for new legislation.

"The United States should not fall behind. The opportunity is too great to ignore. Not only for retail but also for institutional. And I believe they are interested. They are holding roundtables on tokenization at the SEC, which we have participated in," he stated.