Shiba Inu’s Bullish ‘Robinhood’ Catalyst Inches Closer, But The SEC Is The Biggest Stumbling Block ⋆ ZyCrypto
- Robinhood CEO has hinted at a potential listing of Shiba Inu and other Cryptos on the platform.
- He stated that he has heard the voices of users but they have to adopt a cautious approach to avoid trouble with regulators.
- The Shiba Inu community has been vocal in getting the asset listed on popular cryptocurrency exchanges.
“Wen Shib” has been the rallying cry of Shiba Inu’s boisterous community and it seems their voices have caught the attention of Robinhood’s CEO. However, the SEC could be a major stumbling block against the listing.
Is It Time For SHIB?
In a recent interview, Robinhood’s CEO Vlad Tenev announced that the platform would certainly be adding more cryptocurrencies for users. The CEO made the statement in a session with Irvin Sha, the company’s Head of Investor Relations and Capital Markets as they answered questions from users.
The question was read by Sha and inquired whether or not the company would be listing Shiba Inu in addition to other cryptocurrencies. Tenev stated that in the coming months, Robinhood users would see more cryptocurrencies on the platform because they have “been hearing their customers loudly.” He added that the reason for the slow pace was the need to play according to the rules of the regulators.
“We want to avoid triggering SEC registration requirements for cryptocurrencies. That said, we have robust protocols in place and we feel very confident about the coins we have on the platform, and we intend to add more coins going forward,” said Vlad.
He cited the probability of adding unregistered securities to the platform as a potential reason against the listing. For example, the SEC has been embroiled in a legal saga with Ripple Labs since 2020 over the alleged sale of unregistered securities.
Despite not explicitly mentioning Shiba Inu, community members are alluding that the CEO’s statement was directed to SHIB. Last year, Shiba Inu’s community launched a petition on Change.org asking for Robinhood to list the token and so far, the signatures on the platform have exceeded 500,000 and are now on the steady march to 1 million signatures. Through community action, the platform has achieved a listing on Kraken after a series of hitches that nearly derailed plans.
February – The Sweet Spot
On January 11, Zero Hedge sent out a tweet that Robinhood had plans to list SHIB and this could happen by February. The platform notes that Robinhood was already 6 months late as SHIB users have been itching for a listing. A listing on Robinhood will give over 31 million users access to SHIB which will have a positive impact on the asset’s price.
First Squak also made a similar prediction that sent Shiba Inu aficionados over the moon. The news publication tweeted that “SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEB.”
Shiba Inu is ranked as the 15th largest cryptocurrency and trades at $0.00002314 with a market capitalization of $12.7 billion. To shake away the meme tag that shot it to popularity in 2021, Shiba Inu’s team has made significant progress with the Doggy DAO and Shibarium to expand the use cases.