State settles with BlockFi for sales of unregistered securities
BISMARK –
BlockFi agreed to pay
In
BlockFi's agreement to enter into a settlement with the
"While new technology may alter the form of a financial instrument or transaction, it may not alter the substance. Digital asset intermediaries engaging in securities transactions need to come into compliance with the existing laws and regulations designed to protect investors who put their assets at risk." said Securities Commissioner
Effective immediately, BlockFi will stop offering its BIAs to the public. BlockFi's parent company,
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