Lithuania questions legality of Robinhood’s new tokens
The EU is investigating Robinhood’s digital tokens offering exposure to SpaceX and OpenAI.
Robinhood’s new blockchain tokens, which are tied to firms like SpaceX and OpenAI, are under EU scrutiny, with Lithuania’s central bank reviewing whether the product meets financial rules.
The tokens, introduced on 30 July, allow retail investors to gain exposure to high-profile private firms through digital assets. Although Robinhood offered a promotional giveaway to attract EU users, questions quickly arose over the product’s legal classification and how it was marketed to the public.
OpenAI has publicly stated it has no affiliation with Robinhood and has not authorised share transfers. Robinhood responded by confirming that the tokens do not represent actual equity but provide access to the value of private firms via non-equity instruments.
Regulators are now assessing whether the product meets compliance standards and whether investor information has been presented clearly and accurately. The central bank has requested further details before issuing a formal judgement.
Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!
