Algorand is back to trading on Robinhood after a long hiatus

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The Algorand token (ALGO) is now available for trading on the Robinhood platform for retail users in the US, ending the multi-year freeze and rooting towards the SEC process in 2023.

The listing restores a close gate for traders of one of the most caught tokens in the crosshairs of the organization planning to place crypto assets as unregistered securities.

The regulatory pressures were very obvious; In June 2023, it was said SEC complaint against Coinbase The ALGO token is primarily an unregistered security, citing the initial token sale and Algorand’s promotional activities as evidence of the existence of a financial partnership.

The case led to many bans on American platforms, with Robinhood in the United States quietly moving ALGO to “view only”, where it only shows price data while banning trades.

In contrast, Robinhood Europe, which operates under EU law where ALGO is considered a stable crypto asset, had already provided all trading of the token throughout the period.

This difference between the behavior of the same companies in the US and Europe provided a clear picture of how the authorities create market access for the retailers.

How does Robinhood’s Algorand (ALGO) list change?

This step has a clear and distinct sign; When a major US brokerage firm, which previously banned the sale of tokens due to the risk of follow-up, reinstates trading opportunities, it indicates an internal legal review.

Robinhood reaches millions of users in all 50 states, and the decision to support ALGO under the existing license from the Department of Finance of the State of New York is a statement about the new place where the platform places a sign in the event of bankruptcy.

The entire regulatory environment has changed significantly since 2023. The post-Gary Gensler SEC has returned from the “do-first” approach that created the ALGO group as securities, with the arrival of… GENERAL PROCEEDINGS OF THE SENATE It points to the development of legal systems as an alternative to the old judicial system.

Robinhood’s move is consistent with this approach; It includes things that are still illegal, but where the actual risks have been reduced beyond the internal limits.

Robinhood’s acquisition of Bitstamp also adds another important dimension, as Bitstamp, which is now called “Bitstamp and Robinhood,” has been operating the ALGO/USD markets for many years, which means that ALGO’s deprecating and deprecating methods were already inside Robinhood’s organization before it started selling to American traders.

This approach was as much reform as it was innovation. Community discussions on r/Algorand have described this development as “definite”, with the consensus that rebuilding a presence on the major US brokerage platforms is essential for ALGO to regain traffic with local traders.

A note Algorand is back to trading on Robinhood after a long hiatus appeared for the first time Cryptonews Arabic.



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