US Senators Ask Bank Regulators to ‘Review’ SoFi’s Crypto Listings

U.S. senators Sherrod Brown (D-Ohio), Jack Reed (D-R.I.), Chris Van Holland (D-Md.) and Tina Smith (D-Minn.) wrote open letters to digital finance company SoFi and several bank regulators, asking for a “review” of SoFi’s crypto offerings.

The letter to SoFi expressed concerns about the company expanding its crypto business, how it holds customers’ cryptos and its listing of dogecoin (DOGE), which a blog post on the company’s website cited as an example of a “pump and dump” coin.

The lawmakers…

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