Share this article
BlockFi Gets Another Extension From NJ Regulators on New Interest Accounts Ban
An order prohibiting the crypto lender from creating new interest-bearing accounts has now been postponed for the third time to Dec. 1.
By Nelson Wang
Updated May 11, 2023, 5:45 p.m. Published Sep 22, 2021, 3:41 p.m.
The New Jersey Bureau of Securities (NJ BOS) has once again postponed the date by when it will enforce a ban on the creation of BlockFi Interest Accounts (BIAs), BlockFi announced on Twitter on Wednesday.
- The ban was initially supposed to go into effect on July 22 and then was delayed until Sept. 2. There was a second delay to Sept. 30, announced earlier this month. The ban has now been postponed yet again, this time to Dec. 1, following “ongoing discussions” between the two parties, BlockFi said.
- BlockFi said it is in “active dialogue with regulators” and “firmly believes that it is lawful and appropriate for crypto market participants.”
- The company said the order is not currently in effect and has no impact on its current BIA clients or those of any of its other products.
Further extension of New Jersey Bureau of Securities order. Read more at https://t.co/0cI8TrzHfI pic.twitter.com/VwqjzUHsWp
— BlockFi (@BlockFi) September 22, 2021
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The N.J. BOS has said the BIAs are equivalent to unregistered securities, while BlockFi has argued they are not.
- BlockFi is facing similar scrutiny of its interest-bearing crypto accounts from Kentucky, Vermont, Texas and Alabama. BlockFi has said before that it is in “active dialogue with multiple regulators” regarding the accounts.
Read more: BlockFi CEO Wants SEC to Weigh In on Crypto Lending
UPDATE (Sept. 22, 15:55 UTC): Updated with additional background in fourth and fifth bullet points, and adds this is the third extension in the first bullet point.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
