BlockFi will pay a fine of USD $100 million before the SEC and state regulators for non-compliance with the securities law – DiarioBitcoin

US authorities capture nuclear engineer after receiving cryptocurrencies for the sale of secret plans - DiarioBitcoin

BlockFi will pay a fine of USD $100 million before the SEC and state regulators for non-compliance with the securities law - DiarioBitcoin For Angel Di Matteo @shadowargel

Both the SEQ as state regulators ensure that BlockFi incurs violations of securities laws for its cryptocurrency-based products and services.


The cryptocurrency-based financial services platform, BlockFi, must assume the payment of a fine of USD $100 million due to non-compliance with state regulations in force in the United States.

BlockFi will pay USD $100 million in fines

This was reported by the news agency Bloomberg, which he consulted with some close sources and notified that BlockFi will pay about USD $50 million to the US Securities and Exchange Commission (SEC) and another $50 million to state regulators. People familiar with the case indicated that the company will issue a statement next week, in which it will duly report on what happened.

According to various reports, BlockFi had problems with regulators in New Jersey, Alabama, Texas, Kentucky and Vermont, which have launched investigations against the company for the loan and earnings programs it offers to customers, especially under the premise that this offer is in line with the definition of values.

Emphasis on services DeFi

As some analysts point out, sanctions against BlockFi come to place amid the growing emphasis on the part of the SEQ in addressing all those companies / entities that offer services within the space of decentralized finance (DeFi). In this regard, the director of the regulatory body, Gary Gensler, indicated that loans based on cryptocurrencies constitute an area of ​​growing interest, to which his entity must do more monitoring due to the large amounts of capital that move within said sector. .

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For its part, BlockFi published an announcement yesterday through his Twitter account where he notified:

“We have been in ongoing productive dialogue with regulators at the federal and state levels… We do not comment on market rumors. We can confirm that client assets are protected on the BlockFi platform and that our interest account clients will continue to derive crypto earnings as they always have.”

Recommended reading

Fountain: TheBlockCrypto, Bloomberg

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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