SoFi CEO: Fundamental Shift in Regulatory Environment to Restart Cryptocurrency Business

According to CNBC, Anthony Noto, the CEO of financial services company SoFi, recently announced that the fintech bank will reintroduce cryptocurrency investment services in the context of a "fundamental shift" in the regulatory environment under the Trump administration. SoFi was forced to terminate its cryptocurrency business at the end of 2023 due to requirements for obtaining a banking license, but following new guidance issued by the Acting Comptroller of the Currency this year, the company has decided to return to the crypto space. Noto stated that SoFi plans to resume cryptocurrency investment services by the end of the year and integrate blockchain technology into all major product lines within the next 6 to 24 months, including loans, savings, consumption, investment, and protection, not ruling out accelerating this process through acquisitions.