Robinhood to Expand Crypto Trading to EU, Despite Revenue Drop and US Regulatory Uncertainty
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Robinhood plans to launch crypto trading in the EU "in the coming weeks", expanding beyond the US.
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However, Robinhood's crypto revenue fell 26% quarter-over-quarter and 55% year-over-year amid the crypto downturn.
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The expansion follows Robinhood's launch in the UK and its crypto wallet rollout in 2022.
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But Robinhood has scaled back crypto offerings in the US following SEC enforcement actions.
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CEO Tenev hopes EU expansion will open crypto trading to hundreds of millions of new users, while waiting for US regulatory guidance.