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The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an alleged metaverse software development scheme, and … Read more
Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product … Read more
Opposing Assembly Bill 2269, Newsom recommended a “more flexible approach” that would evolve over time while considering the safety of consumers and related costs. Go to Source Powered by WPeMatico
Crypto lending platform is ready to return $50 million out of $210. Go to Source Powered by WPeMatico
On September 2, the crypto market aggregation web portal Coingecko.com published a study that identifies the top ten states in America that are most interested in the two leading digital currencies, bitcoin and ethereum. The team leveraged Coingecko’s page traffic data and found that California captures 43% of the traffic visiting the site’s bitcoin and … Read more
The bill requires digital asset exchanges and crypto companies to have a license of operation in the state of California. Go to Source Powered by WPeMatico
Behind this western U.S. state, Illinois and New York were the next states most interested in the two major cryptocurrencies. Go to Source Powered by WPeMatico
The Department of Financial Protection and Innovation previously ordered BlockFi and Voyager to stop their offerings in the state. Go to Source Powered by WPeMatico
The state Fair Political Practices Commission has reversed a 2018 prohibition that arose from transparency and KYC concerns, while seven states still have a ban. Go to Source Powered by WPeMatico
Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP. … Read more
