BlockFi will pay $100 million, halt high-yield offering in a settlement with SEC and state regulators: report nikhileshde reports
When asked about the report of the settlement, a BlockFi spokesperson would only say,"We have been in productive ongoing dialogue with regulators at the federal and state level. We do not comment on market rumors. We can confirm that clients’ assets are safeguarded on the BlockFi platform and BlockFi Interest Account clients will continue to earn crypto interest as they always have."
Crypto lending in general has come under close SEC scrutiny in recent months. The SEC is reportedly investigating Voyager Digital, Gemini Trust and fellow crypto lender Celsius Network.Makes clear that according to the report under the settlement BlockFi would be prohibited from opening new high-yield accounts to most Americans; existing accounts appear to be unaffected. Adds statement from BlockFi spokesperson.
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