Dec 7, 2023Robinhood, the prominent online brokerage platform, has announced its entry into the European Union with the launch of a cryptocurrency trading feature, signaling a strategic move to tap into international markets beyond the United States.The newly introduced crypto product by Robinhood empowers customers in the EU to buy, sell, and hold a diverse array of over 25 tokens, including popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Cardano, Solana, and Polkadot. The company has ambitious plans for 2024, aiming to expand its offering to include additional tokens, along with features such as the ability to transfer and "stake" crypto for earning rewards.This expansion marks Robinhood's second significant foray outside the U.S., following its recent announcement of plans to introduce stock trades for U.K. customers in early 2024. The platform is enticing EU users with the prospect of earning free Bitcoin by actively trading and referring the app to friends. Users stand to receive up to one Bitcoin based on a percentage of their monthly trading volume and the number of successful referrals.Amid regulatory challenges faced by U.S. crypto firms, including lawsuits against Coinbase and Binance by the U.S. Securities and Exchange Commission, Robinhood sees growth potential in the European Union. The EU has proposed stringent regulations through the Markets in Crypto-Assets regulation, aiming for stricter oversight of crypto trading platforms and issuers of stablecoins.Johann Kerbrat, General Manager for Robinhood Crypto, highlighted the EU's role in pioneering comprehensive laws tailored for the crypto industry, making it an ideal launchpad for international expansion."The EU has developed one of the world's most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto's international expansion plans," said Kerbrat in a statement.Robinhood emphasized transparency and security features in its European crypto offering, including transparent displays of trade spreads and the segregation of customer coins from business funds. The platform stores customer coins in cold wallets disconnected from the internet and maintains a crime insurance policy underwritten by Lloyd's, safeguarding assets against theft and cybersecurity breaches. As Robinhood ventures into the EU market, it aims to build trust among users by addressing key concerns in the crypto industry, including transparency, security, and regulatory compliance. The move aligns with the broader trend of crypto firms seeking growth opportunities in the European Union amidst evolving regulatory landscapes.#crypto #CryptoNews #CryptoNews🔒📰🚫 #Europe #Regulation $BTC $LUNA $DOGE

#crypto tax news update :

#Slovakia 's parliament has just voted to approve a new law that will lower taxes on cryptocurrencies. The new law will reduce the tax rate on #cryptocurrencytradingaddiction profits from 25% to 19%. This makes Slovakia one of the most crypto-friendly countries in #Europe .

The decision to lower taxes on cryptocurrencies is a positive development for the industry. It shows that governments are starting to recognize the potential of cryptocurrencies and are willing to create a more favorable environment for them. This is likely to lead to more investment in the sector and could help to boost innovation.

Binance is committed to supporting the growth of the cryptocurrency industry. We believe that Slovakia's decision to lower taxes on cryptocurrencies is a step in the right direction. We look forward to working with the Slovak government and other stakeholders to further develop the cryptocurrency ecosystem in the country.

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