BlockFi Handed Cease and Desist Order in New Jersey | Crypto Briefing

Key Takeaways

BlockFi has received a cease and desist order from the New Jersey Bureau of Securities.
The order alleges that BlockFi Interest Accounts are funded through unregistered securities.
While the significance of the news is not yet clear, markets have reacted negatively.

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BlockFI ordered to stop onboarding New Jersey-based customers

The New Jersey Bureau of Securities had issued a cease and desist order to centralized crypto lending firm, BlockFi, preventing it from onboarding new interest account clients in the state.

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