Vermont Joins 3 States On BlockFi Regulatory Action
Several states’ securities regulators have been furrowing their brows with regards to BlockFi Interest Accounts (BIA) lately. This includes BlockFi’s home state of New Jersey, who was arguably one of the more strict in their action towards the firm; New Jersey issued a cease and desist that instructed the firm to stop offering their BIA product before the end of this week. Now, securities regulators in New Jersey have pumped the brakes for a moment, extending that deadline. However, in the meantime, Vermont has joined the ranks of New Jersey, Texas, and Alabama for issuing....
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Bitcoin ATMs have been a growing market worldwide as Bitcoin slowly and consistently gains popularity, and many parts of the United States have joined the technology revolution. Some states in the union are more interested and accommodating than others. New Hampshire has been very pro-Bitcoin within their state's regulatory framework. It appears that their western next door neighbor, Vermont, is not so much. Vermont goes from Hero to Zero. At the heart of the matter is being licensed by the state of Vermont to operate a Bitcoin ATM. Blu-Bin/PYC has been running this Bitcoin ATM at a Church....
On July 28, Zac Prince, the CEO of crypto finance firm Blockfi, explained that the company has been “engaged in a productive discourse” with U.S. regulators. Prince further said the New Jersey Bureau of Securities had extended the state’s previous order to September 2. Meanwhile, the company also has issues with Vermont’s Department of Financial Regulation (DFR), as the state’s DFR commissioner filed an order against the firm’s Blockfi Interest Accounts (BIAs). Garden State Regulators Give Blockfi an Extension, Vermont Issues Regulatory Complaints Four....
The state Department of Financial Protection & Innovation says the crypto-interest account is an unqualified security; Nexo has limited the accounts since the BlockFi settlement with the SEC. The California Department of Financial Protection & Innovation (DFPI) has filed a desist and refrain order against crypto lending platform Nexo as part of its ongoing investigation of companies offering interest-bearing crypto assets accounts. The agency claims it is joining regulators from seven other American states in taking action against the company. The other states involved are Kentucky, New....
The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent the company an order that aims to ban new BIA accounts. Blockfi Now Has Problems With Regulators From 5 States The New York City-based cryptocurrency finance company Blockfi was founded in 2017 by co-founders Zac Prince and Lori Marquez. The firm is a cryptocurrency lending firm that offers....
Will BlockFi be the one? The rumors are flying, apparently, the U.S. Securities and Exchange Commission will approve a spot Bitcoin ETF soon. With that in mind, the news that crypto lending platform and investment service BlockFi just filed to get one approved was met with suspicion and excitement by the Bitcoin community. Unlike the Bitcoin Futures ETF, a spot one will require the company sponsoring it to buy a huge amount of Bitcoin. This will definitely affect the price. However… BlockFi? Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One Last....