The popular U.S. brokerage platform Robinhood, or HOOD for short, has announced that it will begin allowing users in the European Union to trade cryptocurrency on Thursday. Robinhood praised the EU’s comprehensive rules regarding digital assets.

BTC Price Index and Live Chart – CoinDesk”>(BTC), according to a Thursday blog post. Users can also earn BTC by referring new users.

After a brutal bear-market, cryptocurrency prices have been rising. The market has recovered to a total market capitalization of $1.5 trillion. This is its highest level since 2022. Bitcoin, the largest cryptocurrency, has been on a recent rise. Trading platforms also benefit from increased trading volumes.

MiCA is a comprehensive regulatory framework that will be implemented by EU countries. This framework offers legal clarity to crypto service providers, and strengthens the position of the region as a global crypto hub.

Click here to view CoinDesk’s list of the 50 most influential people in crypto including Stefan Berger, The Man Who Made MiCA.

In a blog post, Robinhood Crypto general manager Johann Kerbrat stated that the EU had developed the most comprehensive policy in the world for crypto assets regulation. This is why the region was chosen to anchor the international expansion plans of Robinhood Crypto.

In its third quarter earnings report, also announced plans to launch brokerage operations in the U.K. has begun to onboard clients last week.

Robinhood stock is up about 40% in the past year, but it trails crypto exchange Coinbase (COIN), which has seen a 300% rise.

Nick Baker is the editor.