Europe Is Crypto Friendly, Robinhood Spreads Its Wings To The Blue Continent Market
JAKARTA - Robinhood, a leading crypto trading platform and stake in the US, is now opening crypto trading services for customers in the European Union (EU). The company allows European users to transact with more than 25 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin.
The expansion of Robinhood into Europe is carried out amid the development of EU regulations known as MiCA (Markets in Crypto-Assets). Within the framework of MiCA, crypto companies must register with national authorities to serve European customers.
This regulation also aims to provide incentives for large companies such as Robinhood to operate in the region without worrying about legal action.
Johann Kerbrat, GM Robinhood Crypto, said that the company's choice was based on a comprehensive EU policy to regulate crypto assets.
"EU has developed one of the most comprehensive policies in the world for regulation of crypto assets, that's why we chose the region as the basis for Robinhood Crypto's international expansion plan," said Johann Kerbrat on Robinhood's official blog.
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One of the key aspects of MiCA is to make it easier for crypto companies to interact with private and public banks without the need to be afraid of facing legal action from interpreting regulators that occur in the US. This makes it easier for crypto companies to use banking services without the risk of being rejected just because they provide virtual asset services.
No wonder Robinhood, a US-based company facing a negative regulatory environment for crypto companies, decided to expand its operations to Europe.
The EU with clear regulatory measures seems more open and friendly to the crypto asset industry than the US. This clear regulation like MiCA is an attractive option for Robinhood to enter the European market.