Robinhood becoming a fee free crypto broker

Too much hype about this over the past 24 hours

Only available in 5 states in the USA, which is just LOL

Other projects like Ethos have the potential to kill Coinbase
 
Soprano16 said:
Too much hype about this over the past 24 hours

Only available in 5 states in the USA, which is just LOL

Other projects like Ethos have the potential to kill Coinbase
Click to expand...
From the site under “Jurisdictions” tab.

Robinhood Financial, LLC is currently authorized to do business in all 50 states, Washington D.C., and the Commonwealth of Puerto Rico.
 
Likely because of the ridiculous state by state regulatory regime over here. They will expand as they go.
 
“Ridiculous” State by state legislation is usually a better means of protecting liberty than Federal laws.
 
What it means in reality though is 50 different jurisdictions all with their own licensing, bonds etc. Rewards early adopters who get in before legislation catches up - that's why there's no real online competitor to PayPal as an example, startups cannot complete nationally without registering as a money remitter in 50 different jurisdictions.

It's a ridiculous burden on business in the US - you can start a company in California and be in immediate breach of a law in Texas because someone in Houston visited your website.

Coinbase got in first - e.g. New York State gave them a "bit license" to do business in NY, and has rejected almost every other application from new companies since.
 
Regulatory burden. The simple reality is that most regulations are harmful. The fault is an excess of government interference rather than a preponderance of State legislation. States handing out licenses that favours mates at the expense of competition is an example of that. However, State-by-State legislation or the absence of legislation encourages innovation and promises sanctuary eg gun control, marijuana health care, income tax, minimum wages etc.

https://www.freedominthe50states.org

If you want to avoid Iowa's ban on fireworks you go somewhere else, it's a bit difficult to escape the Fed's nationwide monopoly on fiat currency though.
 
thats a good site shiney. we need a site like that for australia that ranks all the criteria as they do & also against other countries like the US im sure oz would be way down the list compared to other countries
 
If we look at this situation now, we can definitely say that this decision has benefited the market.
 
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