US digital banking application SoFi has been targeted by US authorities due to the crypto money services it offers with the FTX collapse.
US Senate Banking Committee Chairman Sherrod Brown and some Democratic committee members sent a letter to Anthony Noto, chairman of digital bank SoFi, on November 21, stating that they were offering the activities of cryptocurrencies that the board did not allow. SoFi Invest The bank, which offers various crypto services to its customers through the Internet, has faced pressure from US institutions.
In the letter sent to SoFi, the company how it maintains its customers’ assets concerns were expressed. The committee said the cryptocurrency was cited as an example of a “pump-dump” in a blog post on SoFi’s site that was later removed. of Dogecoin (DOGE) by company He also addressed his concerns about the listing.
The letter also asked SoFi if it lists any cryptocurrencies that are securities, and if it does, it has a license to offer securities. The main concern of the authorities will be in crypto companies linked to the banking system. FTX What appears to be the potential for a similar collapse to wreak havoc on the US financial system is:
SoFi’s digital asset activities pose significant risks to both individual investors and security and resilience. As we saw this summer as crypto assets lost over $1 trillion in value in a matter of weeks, the link between our banking system and crypto companies was limited by regulatory barriers.
Making a statement against these pressures of the authorities, the SoFi spokesperson said that the company investors that they allow them to buy and sell cryptocurrencies however, he stated that they do not provide any other financing activities or services with cryptos:
SoFi takes its regulatory and compliance commitments seriously, including in our non-bank operations in the digital assets space. We believe that we fully comply with the requirements of our bank license and all applicable laws.
In addition to the statement made, SoFi’s of FTX bankruptcy or of FTT to the downfall not exposed to specified.