In the last couple of days, embattled cryptofinance company BlockFi has been hit with cease and desist notices from three different state regulators for its BlockFi Interest Account, or “BIA,” product – first, in its home state of New Jersey and today, we learn, Alabama and Texas as well. It seems likely more states and eventually the federal regulators will follow. “But BlockFi offers interest accounts just like I have with my bank,” I hear you say, “as do many other DeFi businesses in crypto. It seems these products are offered everywhere in crypto. But I’ve had a bank account for years and my bank isn’t being ... (full story)