Today news
About the same in other media
SEC probes BlockFi as regulator mounts investigations across dozens of crypto firms, report says
Reading now: 999
Chukrut Budrul/SOPA Images/LightRocket via Getty Images
The US Securities and Exchange Commission is probing cryptocurrency lending platform BlockFi over its high-yield, interest-bearing accounts, Bloomberg first reported Wednesday.
The New Jersey-based firm has grown in popularity with such products. It offers accounts that let users earn annual yields as high as 9.5%, according to its website. In contrast, traditional savings accounts let holders earn a mere 0.06% annually. But unlike bank deposits, digital-asset savings accounts are not insured by the federal government.
Sources told Bloomberg that this is the heart of the SEC's investigation: to determine whether BlockFi accounts are similar to securities. If so, these products must then
Read more on markets.businessinsider.comAbout this in other media
Report claims each Solana TX uses less energy than 2 Google searches cointelegraph.com /2 years ago
SEC open meeting on Dec 2 to include crypto panel discussion cointelegraph.com /2 years ago
Ripple case with SEC to ‘likely’ reach a conclusion in 2022, says CEO cointelegraph.com /2 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
