Minn Commerce Dept. Joins 31 States, SEC for $100M Settlement With Crypto Fintech BlockFi for Sales of Unregistered Securities
The
Episode 1: Initial Coin Offerings
Episode 2: Cryptocurrency and Crypto-Investment Risks
Episode 3: Common Crypto Investment Schemes
BlockFi has agreed to settlement terms to work with the
The
"While we recognize the value new technology brings to financial markets, the
BlockFi's agreement to enter into a settlement with the
Many of these products and services are similar to traditional financial services offered by banks and brokerages, but without any of the regulatory safeguards provided by registered firms and products. For example, registered firms must truthfully disclose all known material facts and explain the risks associated with their investments, while the
Effective immediately, BlockFi will stop offering its BIAs to the public. BlockFi's parent company,
The
Commerce is here to help
Consumers with concerns or complaints can contact the
Commerce would like to thank our fellow NASAA member agencies, especially the working group for the multi-state coordinated efforts, and the
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