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SEC Reportedly Looking Into BlockFi’s Crypto Yield Products

The crypto lender was already in hot water with a number of state securities regulators earlier this year.

Автор Danny Nelson
Обновлено 11 мая 2023 г., 5:49 p.m. Опубликовано 17 нояб. 2021 г., 2:38 p.m. Переведено ИИ
(Gabby Jones/Bloomberg via Getty Images)
(Gabby Jones/Bloomberg via Getty Images)

BlockFi’s high-yield crypto interest products have reportedly come under the federal microscope.

Citing one anonymous source, Bloomberg reported Wednesday the U.S. Securities and Exchange Commission (SEC) is “scrutinizing” the New Jersey-based crypto lender. Reportedly at issue are BlockFi’s marquee landing products, which can yield as much as 9.5%.

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BlockFi has maintained that its product is not a security. But securities regulators appear to disagree. Earlier this year, a bevy of state-level agencies opened investigations into BlockFi, which would make the SEC only the latest force to give a look.

BlockFi declined to comment.

Read more: NJ Regulators Give BlockFi 1 Week Before Blocking New Interest Accounts

UPDATE (Nov. 17, 14:43 UTC): Adds that BlockFi declined to comment.