Blockfi received a license in Iowa

Blockfi cryptoding platform has received a license for the provision of financial services in Iowa (USA).

We’re Excited to Announce that We’ve Receved Our Money Services License in Iowa.

Iowa Residents Can Now Trade Stablecoins on Oour Platform and Instantly Transfer Funds Via Ach. Pic.Twitter.COM/Snefilcewy

– Blockfi (@blockfi) June 28, 2022

“Now Iowa residents can trade stablecoins on our platform and instantly transfer funds through Ach,” the report said.

On June 14, the local regulator fined Blockfi in the amount of more than $ 943,000 for violation of legislation. According to the authorities, the platform “offered and sold securities in Ayov, which were not registered or allowed for sale”, and also did not have a license of a broker dealer or agent.

Before that, the company has already encountered regulatory problems at the state level. Claims to her appeared at the supervisory departments of New Jersey, Alabam and Vermont.

In November https://gagarin.news/ 2021, the media reported that the US Securities and Exchange Commission (SEC) initiated an investigation against Blockfi. Later it became known that the company settled the conflict with the SEC and the supervisory authorities at the state level, agreeing to pay $ 100 million fines.

Recall, on June 21, Blockfi signed a protocol of intent with the cryptocurrency exchange of FTX regarding the receipt of a renewable credit line by $ 250 million.

In early June, the media reported that Blockfi was preparing to close a new round of financing when assessing $ 1 billion instead of the previously planned $ 5 billion. In the same month, the CEO of Zak Prince announced the reduction of staff by about 20%.

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