Robinhood CEO Tenev warns US tokenization regulatory uncertainty deters serious assets

Robinhood CEO Vlad Tenev warned that uncertainty over the longevity of US tokenization rules may deter investors from committing substantial assets to tokenized markets, despite the SEC opening a temporary path for onchain stock trading this year. Tenev welcomed the SEC's innovation exemption but said further rulemaking or legislation is needed for long-term regulatory certainty. He noted that the current structure of tokenized products, which are debt securities without equivalent shareholder rights like voting and dividends, falls outside the SEC's exemption. Meanwhile, Binance Research projects the tokenized equities market could grow to $349 billion by 2030, from $4.43 billion currently.