Robinhood Markets CEO Vlad Tenev called on U.S. lawmakers to take a leadership role in defining cryptocurrency regulation, citing legislative gridlock that limits access to popular features such as staking and tokenized stocks.
In a post on X on January 15, 2026, Tenev highlighted that staking remains one of the most requested features on Robinhood but is still inaccessible to customers in four U.S. states, including California, Maryland, New Jersey, and Wisconsin. Meanwhile, stock token products are available to European customers but remain restricted in the U.S. due to unclear domestic rules.
"Staking is one of the most requested features on Robinhood, but it’s still unavailable to customers in four U.S. states due to the current gridlock," Tenev wrote. "Stock Tokens are available to our customers in the EU, but not in our home market. It's time for the U.S. to lead on crypto policy."
Tenev emphasized that Robinhood supports Congress's efforts to advance the crypto market structure bill, which seeks to establish a clear framework for digital assets. The legislation proposes dividing oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission and addresses issues such as stablecoins, tokenized assets, and decentralized finance.
Senate markup postponed as industry voices concerns
The Senate Banking Committee, chaired by Sen. Tim Scott, had scheduled a markup session for Thursday, but it was postponed without a new date. The Senate Agriculture Committee also delayed its markup to late January. The delays followed Coinbase's withdrawal of support for the current draft, citing what CEO Brian Armstrong described as a de facto ban on tokenized equities, restrictions on DeFi, limits on stablecoin rewards, and an overly broad role for the SEC.
Coinbase believes the draft is not in the best interest of its customers but that the issues are fixable. Several other industry figures, including Ripple CEO Brad Garlinghouse, expressed optimism that constructive discussions could resume.
While long-overdue, this move by @SenatorTimScott and @BankingGOP on market structure is a massive step forward in providing workable frameworks for crypto, while continuing to protect consumers. Ripple (and I) know firsthand that clarity beats chaos, and this bill’s success is… https://t.co/EWcml1NpBE
— Brad Garlinghouse (@bgarlinghouse) January 14, 2026
The House passed its version of related legislation last July. For a final bill to reach the President's desk, both committee bills must be reconciled, followed by full House and Senate approval.
Regulatory uncertainty and market risks
While Robinhood and other firms push for clarity, uncertainty remains. Ambiguities in the legal treatment of tokenized stocks and digital assets could influence product availability and market operations. Platforms like Robinhood must navigate fragmented state rules, which limit features such as staking and borrowing on certain products. The potential for regulatory changes could affect access, pricing, and liquidity, leaving investors exposed to uneven service availability.
Blockchain infrastructure introduces additional considerations. While tokenized stock and staking platforms offer innovative mechanisms, technical failures, operational errors, or security incidents could disrupt trading or settlement. Early-stage liquidity remains limited in some markets, which could impact price discovery during periods of heightened volatility.
Tenev sees broader innovation potential
Tenev also discussed artificial intelligence in a separate interview with FOX Business, suggesting that AI could generate new job categories and drive economic growth rather than replace existing roles. He noted that both AI development and crypto regulation illustrate the need for clear frameworks to allow innovation while managing risk.
Robinhood shares fell slightly after the announcement, closing down 0.47% at $119.67, with after-hours trading declining another 0.98%. Despite short-term volatility, HOOD maintains strong long-term momentum and growth rankings according to Benzinga’s Edge Stock Rankings.
As lawmakers deliberate and industry stakeholders weigh in, Robinhood and other platforms continue to advocate for a regulatory environment that balances innovation, consumer protection, and market integrity.
Oleksii Shumak
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