Robinhood CEO Vlad Tenev criticized UK policymakers, calling their cryptocurrency trading approach “backwards” compared to the regulated gambling stance.
Robinhood CEO Vlad Tenev criticized the UK’s restrictive crypto policies, comparing them to regulated gambling. Concerns grow over crypto trading addiction, with a significant amount of traders relating it to gambling. Tenev aims to make Robinhood a global financial giant, starting with UK expansion. In an interview with The Times published on Sunday, Tenev supported individual autonomy in trading decisions and dismissed worries about potential addiction among young crypto traders.
The volatile price changes of digital assets offer chances for huge profits but also pose risks of significant financial losses, a pattern that some experts say is similar to gambling. According to the University of Calgary’s research, 40% of cryptocurrency owners see trading as gambling because they know how risky it is and how much revenue is at stake.
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