U.S. California moves to suspend BlockFi’s lending license in state

11/12 00:50

According to The Block, California's Department of Financial Protection and Innovation issued a notice to suspend crypto lender BlockFi's license in the state for 30 days pending an investigation into the company's announcement that it had halted client withdrawals following the collapse of the FTX exchange. "The DFPI is investigating BlockFi’s compliance with the laws within the Commissioner’s jurisdiction, including the California Financing Law," the agency said in a statement, adding that it is also investigating FTX.

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