Robinhood CEO Vlad Tenev has shared his two cents on the ongoing back-and-forth around the crypto market structure bill in the U.S., also called the CLARITY Act. Highlighting that staking is still illegal in four states, Tenev called EU’s crypto regulatory progress faster than that of the U.S.
Tenev said he supports efforts of the Congress to finalize and soon pass the market structure bill, that would become the foundational cornerstone for state governments and crypto players to work on collectively growing the ecosystem.
“Staking is one of the most requested features on Robinhood App, but it’s still unavailable to customers in four U.S. states due to the current gridlock. Stock Tokens are available to our customers in the EU, but not in our home market. It’s time for the US to lead on crypto policy,” the Robinhood chief noted.
Staking is referred to the process of users locking their tokens to support its blockchain network with security and operational efficiency.
Staking is currently restricted in California, Maryland, New Jersey, and Winsconsin. The states, in 2023, ruled in favour of blocking staking services after Coinbase was accused of violating the U.S. securities laws. However, in 2025 the SEC dropped its case against Coinbase and along followed 45 U.S. states in easing scrutiny around staking. Meanwhile, California, Maryland, New Jersey, and Winsconsin have not revised their anti-staking policies.
“Let’s pass legislation that protects consumers and unlocks innovation for everyone. There is still work to be done, but we see a path and are here to help @BankingGOP and @SenateBanking get it over the line,” Tenev noted.
While the EU has already deployed its comprehensive Markets in Crypto-Assets (MiCA) regulations, the U.S. has made strides in regulating stablecoins and improving the relations between banks and crypto players.
The CLARITY Act is still being negotiated on in the U.S. The bipartisan framework approved by the Senate Banking Committee and the Senate Agriculture Committee is now facing a pushback from crypto players like Coinbase.
As per Coinbase CEO Brian Armstrong, the proposed bill not only imposes a defacto ban on tokenized equities, but also deepens government oversight on people’s financial activities by prohibiting DeFi activities.
For now, the Agricultural committee is set to review the Clarity Act markup on January 27. Details on the Banking Committee’s next step remains unclear for now. It postponed its markup hearing on the bill that was slated for January 15, after Armstrong’s opposition.