Robinhood Chain stock tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited, which puts them inside the MiCA Article 2(4)(a) financial-instrument carve-out — the inverse of the crypto-asset regime that applies to Tempo and Arc. This node maps the regime implied by a pasted characterization: MiCA applicability, MiFID II classification, prospectus exposure, the no-US-persons gate, and SPV voting-rights disclosure. It never asserts a legal conclusion. Client-side. Zero PII.