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The SEC and 32 states charged that the crypto financial institution hadn’t properly registered its program that let people earn interest on Bitcoin, Ethereum, and more.
BlockFi, which didn’t admit or deny the regulator’s findings, will pay $50 million to the SEC and another $50 million to 32 states.
The firm began offering BlockFi Interest Accounts to the public in March 2019, in which investors lend crypto assets to the company in exchange for its promise to provide a variable monthly interest payment.
Crypto lending platform BlockFi will pay the U.S. Securities and Exchange Commission (SEC) $100 million in a settlement over claims that the company violated securities law through its interest account offering, the regulator announced today. The settlement represents the largest recorded penalty incurred by a crypto firm, Axios first reported. BlockFi will pay $50 million […]
Crypto lender BlockFi is paying $100 million to settle SEC claims it violated securities laws..