California Governor Gavin Newsom approved a crypto licensing bill that is set to enforce a structural framework for businesses conducting operations in the crypto industry and is set to take effect in July 2025. On Friday, October 14, Newsom declared that the bill, titled the Digital Financial Assets Law, will make it mandatory for both…
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At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn’t need to, according to court documents. Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year. …
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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…
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The regulator also said in its view that certain crypto interest account providers were providing unregistered securities, such as BlockFi and Voyager. The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing crypto-asset accounts. The DFPI stated that it is investigating multiple crypto interest account…
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