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SoFi has plans to bring back crypto services for its clients after suspending those operations in 2023 so as not to impede its effort to become a regulated bank.“We're going to re-enter the crypto business, which we had to exit," SoFi CEO Anthony Noto said in an interview with CNBC. "We'll re-enter the business of allowing our members to invest in cryptocurrency. We want to actually make a bigger, more comprehensive push into cryptocurrency, to include really providing crypto or blockchain capabilities in each product area that we have."The tech company had offered clients access to more than 20 tokens back in 2023 but decided to halt its services as it was in the process of receiving a bank charter...

Tornado Cash is officially safe from U.S. sanctions, following a district court ruling on Monday.The Treasury Department’s Office of Foreign Asset Control (OFAC) removed Tornado Cash from its sanctions list in March, several months after an appeals court ruled that the agency had “overstepped its Congressionally-defined authority” by sanctioning the crypto mixing service’s smart contracts back in 2022.However, the way that OFAC de-listed Tornado Cash, and the subsequent notices and motions its lawyers filed with the court in March, left apparent wiggle room for the agency to put the mixing service back on its no-fly list in the future, a federal judge said. The Treasury attorneys argued that, because OFAC had revoked sanctions against Tornado Cash before the district court’s...

New York prosecutors are seemingly considering whether or not to drop their case against Samourai Wallet co-founders Keonne Rodriguez and William Lonergan Hill, according to a Monday court filing.In a joint letter to District Judge Richard Berman of the Southern District of New York (SDNY), both prosecutors and lawyers for Rodriguez and Hill requested that the case be granted a 16-day continuance, or extension, “while the Government determines its position” in response to the defense’s request that the case be dismissed under the auspices of U.S. Deputy Attorney General Todd Blanche’s recent memo to the Department of Justice’s (DOJ) staff.In his April 7 memo, Blanche announced that the DOJ’s crypto unit, the National Cryptocurrency Enforcement Team (NCET) would be disbanded,...

Base, the popular layer-2 network from cryptocurrency exchange Coinbase (COIN), is now a “stage 1” rollup, said the company, setting up its path towards full decentralization.The transition to a “stage 1” rollup comes as other layer-2s have also reached that milestone, making these networks less reliant on centralized entities.The move means that Base will now have a security council, a network of ten “independent entities, which we chose from all around the globe,” said Tom Vieira, the head of product at Base, in an interview with CoinDesk. “These are folks from the Base ecosystem and from the broader Ethereum ecosystem,” who will help approve certain network upgrades if needed, Vieira added.In addition, fault proofs are permissionless now on Base, meaning...

The U.K. government released its consultation papers on draft legislation for the crypto sector."This will see the creation of new regulated activities such as operating a cryptoasset trading exchange and stablecoin issuance, as well as market abuse and admissions and disclosures regimes," the Governments website said on Tuesday.The country launched a consultation on the crypto regime when the Conservatives were still in power in 2023, despite Labour coming into power last year, its former Economic Secretary Tulip Siddiq said that the Government intended to ensure that most of all the previous governments crypto plans will be fulfilled.Read more: UK Regulator Intends to Start Authorizing Crypto Firms in 2026Source link