SoFi Resumes Crypto Trading Amid Favorable US Regulatory Shift

SoFi Technologies has resumed spot cryptocurrency trading on its platform, enabling users to buy, sell, and hold digital currencies such as Bitcoin (BTC) and Ethereum (ETH). This decision follows the company's previous exit from the crypto investing market due to regulatory challenges in the United States. In August 2023, SoFi announced it would discontinue its crypto services, and by November 2023, customers were advised to liquidate their accounts or transfer their crypto assets to Blockchain.com.

The fintech’s return to the crypto space is driven by a shift in the regulatory landscape, which has become more favorable for traditional finance players. In April 2025, SoFi's CEO, Anthony Noto, confirmed the company's intention to re-enter the crypto market and integrate blockchain technology across its business. Noto highlighted that the improving regulatory environment was a key factor in this decision. He stated, "We want to be able to offer blockchain products and crypto products across every area that we’re currently in, so across lending, across paying, across investing, as well as protecting."

In addition to resuming crypto trading, SoFi plans to introduce global remittances using blockchain technology. This expansion into stablecoins is part of the company's broader strategy to leverage blockchain for various financial services. The fintech aims to help accelerate innovation in crypto and blockchain, providing customers with more choices and control across investing, cross-border payments, and savings.

The regulatory environment in the United States has shown signs of becoming more supportive of crypto services. Federal Reserve Chair Jerome Powell recently stated that banks are "free" to offer crypto services, indicating a more permissive stance from regulators. This sentiment is further bolstered by the passage of the GENIUS Act in the U.S. Senate, which has received widespread optimism from the industry. President Donald Trump has urged lawmakers to expedite the bill's passage.

SoFi's re-entry into the crypto market and its plans for blockchain remittances reflect a strategic move to capitalize on the evolving regulatory landscape and the growing demand for digital asset services. By integrating blockchain technology into its financial offerings, SoFi aims to provide a more comprehensive and innovative suite of services to its customers. This development underscores the company's commitment to staying at the forefront of financial technology and meeting the evolving needs of its user base.

Ask Aime: How did SoFi's decision to resume spot cryptocurrency trading impact its stock price and market presence?