Staking Services Unavailable in Four U.S. States
Robinhood CEO Vlad Tenev has renewed calls for clearer U.S. crypto regulation, stating that regulatory gridlock is preventing the popular trading platform from offering some of its most requested digital asset features to American customers.
In a post on X, Tenev highlighted that crypto staking remains one of the most frequently requested features among Robinhood users, but the company is still unable to roll it out nationwide. According to Tenev, staking services remain unavailable to customers in four U.S. states due to ongoing regulatory uncertainty, despite strong demand from retail investors.
International Expansion vs. Domestic Stagnation
The comments underscore the uneven regulatory landscape facing U.S.-based crypto platforms. While Robinhood has expanded several digital asset offerings internationally, similar products have stalled in its home market.
Tenev noted that Robinhood’s Stock Tokens, which are tokenized representations of equities, are already live for customers in the European Union but cannot yet be launched in the United States.
Robinhood operates under a patchwork of state-level and federal oversight in the U.S., where questions around whether staking products constitute securities or investment contracts remain unresolved. In contrast, the EU’s more harmonized regulatory framework has allowed firms to roll out tokenized and crypto-linked products with greater clarity and consistency.
Call for Comprehensive Crypto Legislation
Tenev urged U.S. lawmakers to act, calling on Congress to pass comprehensive crypto market structure legislation. "It's time for the U.S. to lead on crypto policy," he stated, adding that clear rules could both protect consumers and unlock innovation across the digital asset sector.
Market structure legislation currently under discussion in Congress aims to clarify the roles of regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, while also establishing clearer definitions for digital assets, staking services, and tokenized products.
Concerns Over U.S. Falling Behind in Fintech Innovation
Industry analysts suggest that Robinhood’s stance reflects growing frustration among U.S. fintech and crypto firms that observe innovation accelerating overseas.
Several companies have already expanded their operations in Europe and other jurisdictions offering clearer crypto rules, raising concerns that the U.S. could fall behind in financial technology innovation.
For Robinhood, the inability to offer staking and stock tokens domestically highlights the competitive pressure created by regulatory uncertainty. As debate continues in Washington, companies and investors alike are watching closely to see whether new legislation can break the impasse and bring long-awaited clarity to the U.S. crypto market.

