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  • 20 July

    BlockFi Ordered to Stop Servicing New Jersey Clients From July 22

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Tue, Jul 20, 2021 9:47 AM by Coinfomania

BlockFi Ordered to Stop Servicing New Jersey Clients From July 22

Popular cryptocurrency lending platform BlockFi has received a Cease and Desist Order from the New Jersey Bureau of Securities, which will stop the firm from offering interest-bearing accounts in the state from July 22, 2021. The order reportedly alleged that the crypto lending firm of offering unregistered securities in the state of New Jersey through the BlockFI Interest Accounts (BIA). The act, according to the Bureau of Securities, violates the state’s relevant security laws, and as such would require BlockFi to stop servicing residents of the state. BlockFi Interest Rates Surpass Traditional Financial Firms For the basic, the BIA offers

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