Robinhood CEO Vlad Tenev said uncertainty about how long US tokenization rules will last could deter investors from putting substantial assets into tokenized markets. On the company’s third-quarter 2026 earnings call, he welcomed the SEC’s temporary exemption for onchain stock trading but said longer-term certainty would require rulemaking or legislation. Robinhood’s existing stock tokens provide economic exposure without conventional shareholder rights, so they do not qualify for the exemption.
Tenev said Robinhood intends to launch private-company stock tokens overseas, subject to regulatory arrangements. In the US, he said the company is still seeking a way to meet accreditation requirements. Robinhood also reported that third-quarter cryptocurrency revenue fell 55% year on year to $120 million.
