BlockFi is back in the news after financial regulators in the state of Alabama claimed that the crypto company’s Bitcoin savings accounts are securities. Alabama is the second state to lock horns with the firm after the Attorney General of New Jersey ordered the company to stop accepting new customers. Instead of forcing the company to halt operations for Alabamans, the Alabama Securities Commission (ASC) has issued a show-cause notice. In it, Director Joseph Borg has ordered BlockFi to explain “why they should not be directed to cease and desist from selling unregistered securities in Alabama.” This language ... (full story)