Alex Coin 
Both the SEC as state regulators ensure that BlockFi incurs securities law violations for its cryptocurrency-based products and services.
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The cryptocurrency-based financial services platform, BlockFi, will have to pay a fine of USD $100 million for non-compliance with U.S. state regulations.
BlockFi will pay $100 million in fines
This was reported by the news agency Bloomberg, which consulted with some sources close refers to the closing price; similar to the same term used in stock trading. to him and reported that BlockFi will pay about USD $50 million to the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) and another $50 million to state regulators. People familiar with the case indicated that the company will issue a statement next week, in which it will properly report on what happened.
According to various reports, BlockFi ran into trouble with regulators in New Jersey, Alabama, Texas, Kentucky and Vermont, all of which brought investigations against the company for the loan and profit programs it offers to customers, especially under the premise that this offering meets the definition of securities.
Emphasis on services DeFi a movement encouraging alternatives to traditional, centralized forms of financial services.
As some analysts have pointed out, the sanctions on the BlockFi come amidst the growing emphasis on the part of the SEC in addressing all those companies/entities offering services within the decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance space. (DeFi). In this regard, the director of the regulator, Gary Gensler, said that loans based on cryptocurrencies are an area of growing interest, which his entity must do more monitoring because of the large amounts of capital capital is most commonly defined as the large sum of money you would use to invest. that move within this sector.
For its part, BlockFi published yesterday an announcement through his Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ where he notified:
“We have been in ongoing productive dialogue with regulators at the federal and state level… We do not comment on market an area or arena, online or offline, in which commercial dealings are conducted. rumors. We can confirm that client a client is software that can access and process blockchain transactions on a local computer. A common application of this is a cryptocurrency software wallet. assets are protected on BlockFi’s platform a place to buy, sell and store cryptocurrency and that clients in our interest accounts will continue to derive crypto profits as they always have.”
Statement from BlockFi: pic.twitter.com/gcqbg8zqAv
— BlockFi (@BlockFi)February 12, 2022
- BlockFi faces scrutiny from regulators in Texas, Alabama and New Jersey
- BlockFi announces launch of its new VISA credit card, which offers rewards in Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions.
- BlockFi mistakenly sent large Bitcoin rewards to its customers
Source:TheBlockCrypto, Bloomberg
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash
