Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Cryptoknowmics 2022-06-29 06:39:48

BlockFi Announces Receiving Money Services License in Iowa

BlockFi, a cryptocurrency lending platform, declared on June 28 that it had been granted a Money Services License in Iowa, just two weeks after being penalized by Iowa regulators for marketing and selling unregistered securities. The crypto lender can buy and sell payment instruments in Iowa, thanks to the state’s license. BlockFi announced on Twitter that it would start by enabling stablecoin trading for citizens of Iowa. We're excited to announce that we’ve received our Money Services License in Iowa. Iowa residents can now trade stablecoins on our platform and instantly transfer funds via ACH. — BlockFi (@BlockFi) June 28, 2022 BlockFi Fined For Violations of the State’s Securities Act BlockFi was previously penalized more than $943,000 for violations of the state’s Securities Act on June 14 by the Iowa Insurance Division (IID), which oversees securities transactions in the state. Moreover, failing to register as a broker-dealer or agent, IID said BlockFi had “offered and sold securities in Iowa that were neither registered nor permitted for sale in Iowa.” The United States Securities and Exchange Commission (SEC) levied hefty penalties in February for failing to register an offering of high-yield interest accounts that it believed to be securities. One of the highest fines ever levied against a crypto company by a federal agency. BlockFi Fine Settlement BlockFi slams with settlements totaling $10...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.