Robinhood CEO Vlad Tenev has criticized the United Kingdom’s approach to cryptocurrency regulation, calling it “backwards” when compared with how the country treats gambling. In an interview with The Sunday Times, Tenev argued that it is inconsistent for the UK to permit widespread, heavily advertised gambling while taking a far more restrictive and risk-averse stance toward crypto trading and products such as margin trading. He said it was “strange” that gambling can continue largely unhindered while policymakers single out digital asset trading as a particular problem, drawing a direct comparison between the two activities. Tenev’s comments come as Robinhood is pushing to expand its presence in the UK, having already launched stock trading and then added margin trading for British users, even as UK regulators tighten oversight of crypto firms. The UK Financial Conduct Authority has rejected, withdrawn, or denied the vast majority of crypto firm registration applications, and authorities have repeatedly warned retail investors they could lose all their money in digital assets. A UK Treasury Committee proposal to regulate retail crypto trading like gambling was rejected by the government, which cited the need to align with international financial standards and ensure robust risk mitigation. Tenev’s intervention highlights the tension between fintech platforms seeking to grow crypto services in Britain and a regulatory environment that is taking a cautious, consumer-protection–led approach to the sector.

AI-generated background, compiled from web sources — not editorial content.

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