BlockFi, a cryptocurrency lending platform, charged with failing to register its lending product and violating registration provisions. BlockFi agreed to pay $50 million penalty, cease unregistered offers and sales of the product, and comply with the law within 60 days. The platform also agreed to settle charges with 32 states to settle similar charges. SEC Chair Gary Gensler: “Crypto markets must comply with time-tested securities laws” BlockFi CEO: “Strong engagement with regulators would be critical for the adoption of financial services powered by cryptocurrencies””]
Source: https://www.cuinfosecurity.com/blockfi-to-pay-sec-state-regulators-100m-in-penalties-a-18514