Published
5 years ago on
July 12, 2018
“Robinhood’s decision to add Litecoin and Bitcoin Cash is not surprising as the currencies come with little regulatory risk, based on recent guidance from the SEC. This is not the case with other more centralized digital tokens, which the agency has warned are akin to securities that must be registered. Robinhood says it’s service offers users the ability to track the price of other cryptocurrencies, including XRP and Monero, and that the company may offer some of these for sale in the future.â€See the full article for yourself, here. Cryptocurrency is a bit of a side project for Robinhood at the moment, with their main focus based on a more traditional stock brokerage. With this in mind though, they clearly do wish to expand their cryptocurrency portfolio and could one day open up their own cryptocurrency exchange, away from the current ‘coin buying platform’ through which Robinhood operates. As a result of this, it is unlikely that Bitcoin Cash or Litecoin will skyrocket from this announcement, however in a few months time, when Robinhood grows within cryptocurrency and becomes a more serious point for exchange, we could very well see the already listed coins benefit greatly.
