Compartir este artículo
Kentucky Orders BlockFi to Stop Signing Up New Interest Accounts
Kentucky is the fifth state to allege BlockFi Interest Accounts are securities.
Por Nikhilesh De
The Kentucky Department of Financial Institutions has become the fifth state regulator to claim that BlockFi's interest service violates state securities laws.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
Kentucky's Division of Securities ordered the crypto lender to stop opening new accounts in the Bluegrass State. Kentucky joins Alabama, New Jersey, Texas and Vermont in alleging that BlockFi Interest Accounts (BIAs) violate state securities laws.
"'BlockFi’s website offers cryptocurrency lending and borrowing services through ‘BlockFi Interest Accounts’ (BIAs) advertised on its website. Through these accounts, investors may deposit certain cryptocurrencies with the company in exchange for a specified interest rate.' The company has accepted nearly $15 billion in these accounts from investors," the regulator said in a press release.
In response, BlockFi announced it would "immediately" stop signing up new customers in Kentucky.
Existing customers remain unaffected. Kentucky joins Texas in filing for a cease-and-desist order, while Alabama, New Jersey and Vermont have filed "show-cause" orders.
— BlockFi (@BlockFi) July 30, 2021
The company has come under fire on allegations that BIAs violate securities laws because customers pool their funds with the company, which then lends them to generate profit.
BlockFi has maintained that in its view, BIAs don't violate securities laws in any of the states it operates in.
Many of the state regulators pursuing allegations against BlockFi have given the company an opportunity to provide evidence in support of its claim. New Jersey has given BlockFi until the beginning of September to respond, while Texas securities regulators have a hearing scheduled for early October.
Despite its regulatory woes, the company is still pursuing a $500 million Series E funding round ahead of a possible initial public offering, according to documents reviewed by CoinDesk. While the round was expected to close earlier this week, it's unclear whether it has done so.
UPDATE (July 30, 2021, 23:40 UTC): Clarifies that while Kentucky is only the second state to file a cease-and-desist against BlockFi, while three other states filed show-cause orders.
Más para ti
Lo que debes saber:
- 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.
Más para ti
XRP Underperforms Market as Sudden Bitcoin Surge Forces $387M of Liquidations
XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion
Lo que debes saber:
- XRP posts gains but underperforms compared to the broader digital asset surge, with below-average trading volume raising questions about the move's strength.
- Bitcoin's rise above $94,000 triggered a broad market rebound, leading to significant liquidations and reshuffling of positions.
- XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion to confirm momentum alignment.
Top Stories
