:max_bytes(150000):strip_icc()/GettyImages-1246003340-fa9d8984fece4665aefa8a412a287491.jpg "Important Information for Customers: SoFi Ceases Crypto Services")
Key Takeaways
SoFi Technologies is shutting down its cryptocurrency services by Dec. 19, the company announced Wednesday.Existing users can either opt-in to have their accounts transferred to privately-held Blockchain.com or have their sofi-ceases-crypto-services.html” title=”Important Information for Customers: SoFi Ceases Crypto Services”>accounts automatically closed.For users cashing out for a profit, the sale could trigger a tax implication.In some states where Blockchain.com does not provide services, users will have to sign up with its partner Bakkt Crypto Solutions.Users in New York will not be eligible for the migration and will need to sell or have their accounts liquidated.
SoFi Technologies (SOFI) will shut down its crypto services by Dec. 19. Existing accounts will have the choice to migrate to Blockchain.com platform or be closed and liquidated at that time, with a few caveats.
What Does This Mean For SoFi Crypto Customers?
Existing SoFi cryptocurrency customers should receive an email today with details of the migration.
Users who want to migrate to…
2023-11-29 14:30:13
Article from www.investopedia.com
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