California revokes the lending license of bankrupt crypto lending platform BlockFi

the California Department of Financial Protection and Innovation (DFPI) has announced the permanent revocation of the lending license of the bankrupt cryptocurrency lending platform BlockFi. This decision was made two years after BlockFi applied for bankruptcy. DFPI suspended BlockFi's license in November 2022 and conducted a comprehensive review of the company.

BlockFi has agreed to accept the license revocation and has promised to stop violating and unsafe business practices. DFPI originally fined BlockFi $175,000, but considering that the company is bankrupt and no longer operating, it decided to waive the fine to prioritize consumer rights protection.

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California revokes the lending license of bankrupt crypto lending platform BlockFi

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Recommended for you

BTC breaks $90,000

The US spot Bitcoin ETF saw a net inflow of $54.8 million yesterday.

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He Lifeng held a video call with U.S. Treasury Secretary Bessant and Trade Representative Greer.

Hassett: No discussion with US President Trump regarding the Federal Reserve Chair (selection)

White House National Economic Council Director Hassett: It's Time for the Fed to Cautiously Cut Interest Rates

The yield on the 10-year U.S. Treasury note rose 2 basis points to 4.12%, a new high since November 2020.

Social media platform "X" has been fined €120 million by the European Union for violating content regulations.

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