SoFi Bank Chief Announces Return of Cryptocurrency Investment Following Regulatory Shift Instigated by Trump: Source
Down to Business: A Crypto-Friendly Era is Upon Us!
Hey there! Let's dive right in and talk about how the crypto world is heating up thanks to the new administration's relaxed stance on regulations.
In an exclusive interview with CNBC, SoFi CEO Anthony Noto shared some exciting news - they're bringing back crypto banking! Remember back in 2023 when they had to halt crypto activities due to regulatory pressure? Well, they're ready to give it another go, and this time, they're aiming for a bigger, better push into the crypto realm, offering crypto or blockchain capabilities in every product area they have.
Last week, the Federal Reserve made a bold move by withdrawing four previous statements and letters regarding its expectations of banking crypto activities. This action ensures their expectations remain in sync with the evolving risks, supporting innovation in the banking system. The Fed plans to continue monitoring crypto activities through regular supervision.
This move is just another sign of a trend we've been seeing since President Trump's reinstatement - regulators are taking a more lenient approach towards the crypto sector.
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(Source: Daniell Marlow, April 29, 2025, Regulators)
Industry Announcements
- NEXPACE Launches MapleStory N and NXPC Token, Charting a New Chapter for MapleStory Universe
- GSR Invests in Maverix Securities to Support the Launch of Regulated Digital Asset Structured Products
- Sportsbet.io launches 1 million USDT giveaway to mark Champions League finale
- Whale.io Accelerating Towards TGE - Unveils 'Wager and Earn' Campaign and Launches WHALE Token Conversion
- Edgen Launches 'AI Super App,' Democratizing Institutional-Grade Crypto Market Intelligence
- BC.GAME Unveils New Logo, Strengthens Crypto Integration in iGaming Ecosystem
- Plutus Launches PLUS More on Base - A New Era of Tokenized Loyalty Rewards
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In light of the new administration's relaxed stance on regulations, SoFi is re-entering the crypto world by offering comprehensive crypto or blockchain capabilities across all their product areas, aiming for a bigger and better presence in the crypto realm. Meanwhile, the Federal Reserve's decision to withdraw previous statements on banking crypto activities supports innovation in finance and demonstrates a lenient approach towards the crypto sector. This trend of regulatory leniency towards cryptocurrency and blockchain technology has been growing since President Trump's reinstatement.
