Robinhood Secures UK Crypto Registration as Stock Faces Pressure

Robinhood has secured registration to offer crypto services in the UK before the new regulatory regime comes into effect.

This is a significant milestone for the company, which has been making inroads in the crypto space. The registration with the Financial Conduct Authority (FCA) highlights Robinhood's compliance with AML requirements and its commitment to operating within the existing crypto asset regime.

The FCA register currently includes over 50 companies, including Ripple, Kraken, BlackRock, and BNY. This approval comes just before the new comprehensive crypto regulatory regime in the UK takes effect, which will require firms to apply for authorization by the end of February.

Ryanhood's Chain TVL has surged to nearly $400 million as part of its expansion into the on-chain ecosystem. However, this still lags behind Base's current TVL, with some market participants arguing that the broader Robinhood Chain ecosystem remains undervalued until its TVL approaches parity.