You should consult with a financial professional to determine what may be best for your individual needs. The information is for informational purposes only. This advertisement does not constitute financial advice or any other advice. In 2020 Telegram which is a messaging app, paidĪn $18.5 million fine and for its TON token launch refunded investors $1.2 Staging the EOS initial coin offering ICO, which raised $4.2 billion. one was fined $24 million for its role in over similar issues.Īccording to SEC records, Block. As per a report based in January, the SEC is also scrutinizingĬelsius, Gemini, and Voyager Digital Ltd. In September afterĬoinbase received threatened to sue from SEC, gave up its planned high-yield Lenders going through scrutiny from state and federal regulators:Ĭompetitor Celsius Network is also facing scrutiny. BlockFi spokesperson Madelyn McHugh “WeĬan confirm that clients’ assets are safeguarded on the BlockFi platform andīlockFi Interest Account clients will continue to earn crypto interest as they Million to various states as per the report.
Jersey City, New Jersey, will pay a $50 million fine to the SEC and another $50 High-yield accounts for most American residents. Should be treated as securities that should be registered.Īgreement with regulators, BlockFi will have to discontinue opening new The SEC and state governments have been looking into whether BlockFi's accounts In November, the SEC alleged that BlockFi Interest Accounts, whichĬan yield between 5 and 10%, are unregistered securities. Regulators which are Alabama, Kentucky, New Jersey, Texas, and Vermont, demandedīlockFi should stop selling its products to their residents making SEC game for Unregistered securities with undisclosed risks. The securities regulators of several states claiming that the company was selling Last year BlockFi received enforcement action over the accounts from Then at even higher rates, the company loans thoseįunds out. Savings accounts at high-interest rates which BlockFi's business model is To settle down the allegations the lending platform agreed to payĮthereum, and Tether are cryptocurrencies that are locked up in BlockFi's Offering a product that pays customers high-interest rates to lend out theirĭigital tokens. Securities andĮxchange Commission and multiple state securities regulators for illegally Platform BlockFi was going through investigations from the U.S.
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