Kentucky Joins Growing List of States Targeting BlockFi s Bitcoin Savings Accounts
Kentucky is the fifth state this month to question BlockFi over potential securities violations.
BlockFi offers high-interest savings. Image: The Focal Project (CC BY-NC 2.0)
Interest isn t the only thing compounding at crypto lender BlockFi. Its regulatory troubles are compounding too.
The company has ceased offering BlockFi Interest Accounts (BIAs) to Kentucky residents after receiving a cease-and-desist order Friday from the Kentucky Department of Financial Institutions (DFI), according to a tweet.
It s now been hit by cease and desists or show cause notices by five states: New Jersey, Alabama, Texas, Vermont, and Kentucky.
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