Robinhood's tokenized stocks face EU scrutiny, as the Bank of Lithuania demands clarification on product structure and consumer information disclosure
ChainCatcher news, according to CNBC, the Bank of Lithuania has contacted Robinhood, awaiting clarification on the structure of the OpenAI and SpaceX stock tokens and related consumer communications. Robinhood has not yet commented on this. Giedrius Šniukas, a spokesperson for the Bank of Lithuania, stated that they can only assess the legality and compliance of these specific instruments after receiving and evaluating this information, and that the information provided to investors must be clear, fair, and not misleading.Previously, OpenAI Newsroom responded to the incident of "Robinhood CEO sharing that Robinhood has minted 2,309 OpenAI stock tokens on the Arbitrum network" by stating that "OpenAI tokens" are not equity in OpenAI, that there is no collaboration with Robinhood, and that they are not endorsing this matter. Any transfer of OpenAI equity requires its approval.