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Lithuania’s central bank on Monday said it has contacted Robinhood seeking clarifications over its tokenized equities after OpenAI raised concerns over the product last week.
“We have contacted Robinhood and are awaiting clarifications regarding the structure of OpenAI and SpaceX stock tokens as well as the related consumer communication,” Bank of Lithuania spokesman Giedrius Šniukas told CNBC via email.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments. The information for investors must be provided in clear, fair, and non-misleading language.”
The Bank of Lithuania is Robinhood’s lead regulator in the European Union after the company received a brokerage license and crypto asset service provider license from the central bank. Robinhood was not immediately available for comment when contacted by CNBC.
It comes shortly after OpenAI distanced itself from Robinhood’s “Stock Tokens” product. Launched on June 30, the product gives users in the EU the ability to invest in shares in the form of blockchain-based tokens, according to Robinhood — even for privately held firms like OpenAI and SpaceX.
Following Robinhood’s announcement of the new token offering, OpenAI took to social media platform X to warn users that “these ‘OpenAI tokens’ are not OpenAI equity.”
“We did not partner with Robinhood, were not involved in this, and do not endorse it,” the company said at the time, adding “any transfer of OpenAI equity requires our approval — we did not approve any transfer” and urging users to approach the product with caution.
In response to OpenAI’s warning last week, Robinhood had said that its stock tokens “give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle.”