After the highly anticipated Cryptocurrency Executive Order in the US was signed by President Joe Biden, it remains to be seen how it will affect the crypto market. In the opinion of experts, after the testing phase of crypto exchange Robinhood wallets as uncertainty subsides, it could open the doors to the meme coin Shiba Inu (SHIB).
Will regulatory clarity open the door to listing?
This year, retail trading platform Robinhood announced that it will not be adding new cryptocurrencies anytime soon, including Shiba Inu (SHIB), due to the lack of regulatory clarity in the crypto industry. The company announced this development by its CFO, Jason Warnick, during the Wall Street Journal (WSJ) virtual CFO summit in January.
Two months after Robinhood’s announcement, the cryptocurrency industry recorded a significant gain, as President Joe Biden signed the long-awaited crypto executive order, which requires all relevant institutions to cooperate and provide industry-appropriate policy recommendations.
With this order, it is clear that the US is ready for clearer regulation of the crypto industry. He sees the crypto asset class as the currency of the future. Now that the US is determined to take a more transparent approach to the emerging industry, it seems like the right time for Robinhood to list the Shiba Inu and cryptocurrencies.
An opportunity for Robinhood and Shiba Inu?
Recently, Robinhood users made several calls to the investment platform to list Shiba Inu for trading. Not only does the Shiba Inu have a solid community behind the project; The cryptocurrency is among the most popular cryptocurrencies in the past year, with rapid adoption beyond expectations. Experts state that Robinhood’s listing of Shiba Inu will benefit both the trading platform and SHIBArmy in several ways.
Experts predict that if Shiba Inu goes live on Robinhood, the platform will be flooded with new users waiting for the opportunity to get SHIB on the popular trading app and Robinhood will be able to make huge profits through trading fees. On the other hand, the adoption by Shiba Inu’s listing on Robinhood could support very high levels of token value that every SHIB holder expects.
Meanwhile, one of the reasons Robinhood has not yet listed the Shiba Inu is speculated to be the delay in the launch of the online trading platform’s cryptocurrency wallet. In January, Robinhood launched the public beta version of its crypto wallet for testing by 1,000 customers. The firm also noted that it will increase the number of customers who will try the wallet to 10,000 this month.
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