SEC Agrees To Delay $30M Fine From Bankrupt BlockFi Until Investors Are Repaid

06/23 08:40

June 23 (Huobi) - The SEC has agreed to delay a $30 million fine against BlockFi until after investors are repaid, according to a court filing. The fine is part of a $50 million penalty owed by BlockFi to the regulator for failing to register its crypto lending product. The SEC agreed to forego the payment in order to maximize the amount that can be distributed to investors and avoid delays. BlockFi filed for bankruptcy in November 2021 after the collapse of FTX, and its customers are among the first creditors in line to receive payment.

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