According to CoinMeta, Vlad Tenev, the CEO of robinhood, stated that the US tokenization market needs sustainable regulatory rules. During the third-quarter financial report conference call, he mentioned that the innovative exemptions granted by the U.S. Securities and Exchange Commission (SEC) are a positive step, but the uncertainty of regulatory rules is hindering investors from investing in the tokenization market. robinhood plans to launch private company stock token products overseas and is seeking compliant pathways in the U.S. that meet investor certification requirements. In the third quarter, robinhood's cryptocurrency revenue decreased by 55% to $120 million, and the notional trading volume of cryptocurrencies fell by 38% to $50 billion.