Robinhood chief executive Vlad Tenev reaffirmed support for the stalled US crypto market structure bill despite growing industry divisions.
Tenev said Robinhood will assist the US Senate in advancing the legislation amid ongoing bipartisan negotiations.
He said demand for staking and stock tokens remains high on Robinhood but is limited by regulatory uncertainty in parts of the country.
“It’s time for the US to lead on crypto policy,”
Vlad Tenev said, adding that the firm supports efforts to pass the bill and help move it forward.
The legislation seeks to establish a clear framework for digital assets and divide oversight between the SEC and CFTC.
It also addresses stablecoins, tokenised assets and decentralised finance within a unified regulatory structure.
The Senate Banking Committee postponed its planned markup hearing late Wednesday without setting a new date.
The delay followed Coinbase’s decision to withdraw support for the bill after reviewing the latest draft.
Coinbase chief executive Brian Armstrong said the text included a “de facto ban” on tokenised equities and restrictions on DeFi and rewards.
A source familiar with the matter said Coinbase believes the issues are fixable and plans to re-engage before the next markup.
Ripple chief executive Brad Garlinghouse said the company remains committed to the legislative process.
“This move on market structure is a massive step forward in providing workable frameworks for crypto,”
Brad Garlinghouse said.
The House passed a related version of the legislation last July, requiring reconciliation before a full Senate vote.