The New Jersey Attorney General is preparing a cease and desist order against multi-billion dollar bitcoin financial services platform BlockFi | Crypto Craft

  • The New Jersey Attorney General is preparing a cease and desist order against multi-billion dollar bitcoin financial services platform BlockFi

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Goat
Jul 20, 2021 11:40am
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Quoting cryptocow
It looks like they are going after BlockFi for selling at unregistered securities. I wonder if the New Jersey Office of the Attorney General will spell out which cryptocurrencies are, in fact, unregistered securities.
In case they don't spoon-feed you: mineable coins are commodities, non-mineables are securities.
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cryptocow
Jul 20, 2021 8:56am
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It looks like they are going after BlockFi for selling at unregistered securities. I wonder if the New Jersey Office of the Attorney General will spell out which cryptocurrencies are, in fact, unregistered securities.
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cityRat
Jul 20, 2021 1:05pm
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It sounds like they're targeting the interest-earning crypto accounts. They pay up to 8% interest, while my traditional savings account is giving me 0.4%.

https://www.njoag.gov/new-jersey-bur...ring-accounts/
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Acting Attorney General Andrew J. Bruck today announced that the Bureau of Securities has issued a Summary Cease and Desist Order to stop a financial services company based in Jersey City from selling unregistered securities in the form of interest-earning cryptocurrency accounts that have raised at least $14.7 billion worldwide.
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Goat
Jul 19, 2021 10:59pm
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Yup.
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