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Robinhood exec says proposal for a single digital asset regulator is stupid
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Robinhood’s chief legal officer Dan Gallagher described the idea of creating a new digital asset regulator was “just plain silly” at a conference on Nov. 17.
Robinhood is a popular commission-free trading app that offers digital assets, and rival crypto asset exchange Coinbase put foward the idea of a new regulator in October.
Gallagher told attendees at the Georgetown University Financial Markets Quality Conference that “it doesn’t make sense” to add additional agencies to “the alphabet soup of Washington.”
He went on to say that attempting to transfer authority from agencies like the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to another regulator was “one of the stupidest ideas I've heard in
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