SoFi Plans Crypto Comeback After Regulatory Shift Under Trump Administration

Benzinga

SoFi CEO Anthony Noto said Monday the company plans to re-enter the cryptocurrency business, according to CNBC. The move follows changes in federal oversight under the Trump administration. SoFi halted crypto investing in late 2023 to comply with conditions tied to its bank charter, forcing customers to either liquidate or transfer holdings. New guidance from the acting head of the Office of the Comptroller of the Currency has opened the door for a return. Noto said the fintech bank will resume crypto investing by year-end, with a broader push into blockchain integration across all product areas within two years.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02SoFi CEO Anthony Noto said Monday the company plans to reenter the cryptocurrency business,

00:07according to CNBC.

00:09Move files changes in federal oversight under the Trump administration.

00:13SoFi halted crypto investing in late 2023 to comply with conditions tied to its bank chart,

00:18forcing customers to either liquidate or transfer holdings.

00:21New guidance from the acting head of the office of the comptroller of the currency

00:24has opened the door for a return.

00:27Noto said the fintech bank will resume crypto investing by year end,

00:31with a broader push into blockchain integration across all product areas within two years.

00:36For all things money, visit Benzinga.com slash GSTV.

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