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Digital asset trading platform Robinhood unveiled Solana-based services in Europe after delisting SOL in the U.S. due to regulatory concerns.&nbsp;
A May 15 <a href="https://www.globenewswire.com/news-release/2024/05/15/2882110/0/en/Robinhood-Crypto-Launches-Staking-in-Europe-with-Localized-Apps-to-Follow.html" target="_blank" rel="noopener noreferrer nofollow">press release</a> stated that the Menlo Park service provider has enabled Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) staking for European customers as part of its expansion across the bloc.&nbsp;Eligible users can now stake SOL tokens directly via the Robinhood application for as much as 5% annual percentage yield&nbsp;(APY), marking the company’s first-ever crypto-staking offering.
The company is also rolling out localized versions of its platform to improve crypto adoption across Europe. Users in Italy, Poland, and Lithuania will receive the new service first before the company launches in other countries.&nbsp;
Furthermore, new clients can earn <a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noopener noreferrer nofollow">USDC</a> rewards for buying crypto within 30 days of signing up and access web3 educational modules centered around Avalanche (<a href="https://crypto.news/price/avalanche/" target="_blank" rel="noopener noreferrer nofollow">AVAX</a>), Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), and Circle’s stablecoin.&nbsp;
You might also like: <a href="https://crypto.news/secs-hostile-stance-threatens-us-crypto-innovation/" rel="noopener noreferrer nofollow"> SEC’s hostile stance threatens US crypto innovation </a>
<h2 class="wp-block-heading" id="robinhood-shifts-selected-services-outside-the-u-s">Robinhood shifts selected services outside the U.S.&nbsp;</h2>
Robinhood’s decision to offer Solana-backed facilities in Europe perhaps underpins a friendlier approach to cryptocurrencies across the continent. Introducing the Markets in Crypto Assets Regulation (MiCA) has seemingly made it easier for service providers to achieve compliance and offer tokens.
Conversely, the platform <a href="https://crypto.news/robinhood-to-cut-support-for-cardano-polygon-and-solana/" target="_blank" rel="noopener noreferrer nofollow">delisted</a> SOL alongside Cardano (<a href="https://crypto.news/price/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA</a>) and (<a href="https://crypto.news/price/polygon/" target="_blank" rel="noopener noreferrer nofollow">MATIC</a>) as the U.S. SEC classified the tokens as securities in a June 2023 lawsuit.&nbsp;Many in the U.S. have long since <a href="https://crypto.news/secs-hostile-stance-threatens-us-crypto-innovation/" target="_blank" rel="noopener noreferrer nofollow">decried</a> the commission’s “regulation by enforcement” tactics, a decision that industry stakeholders say has left businesses without clear rules.&nbsp;
Still, the SEC has continued deploying crypto crackdowns, including a Wells notice <a href="https://crypto.news/sec-issues-wells-notice-to-robinhood-crypto/" rel="noopener noreferrer nofollow">against</a> Robinhood for its digital asset operations.&nbsp;In response, the Digital Chamber <a href="https://crypto.news/the-digital-chamber-criticizes-sec-over-wells-notice-to-robinhood-crypto/" target="_blank" rel="noopener noreferrer nofollow">expressed</a> profound disappointment in the decision, echoing a sentiment that the SEC is failing its congressional duty to regulate markets.&nbsp;
Read more: <a href="https://crypto.news/experts-sec-leveraging-lack-of-regulatory-clarity-in-crypto-crackdown/" rel="noopener noreferrer nofollow"> Experts: SEC leveraging “lack of regulatory clarity” in crypto crackdown </a>

Robinhood Europe debuts 5% APY Solana staking

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