Friday, 24 March, 2023

BlockFi hit with $100m fine for operating without registration

<p>After investigation, the US SEC found out that crypto leader BlockFi was operating without registration for about 18 months. BlockFi will pay a $50m penalty to the SEC and another $50m to settle similar matters in other 32 states. Along with this, the SEC has given the company 60 days to bring their business into compliance. Chairperson of SEC, Gary Gensler stated that this settlement makes it clear that all crypto markets will have to obey time-tested security laws.</p>