Share this article
BlockFi Gets More Time From NJ Regulators Before New Interest Accounts Are Banned
An order by the New Jersey Bureau of Securities had already been delayed once.
By Nelson Wang
Updated Sep 14, 2021, 1:32 p.m. Published Jul 28, 2021, 9:58 p.m.
Crypto lender BlockFi has been given at least another month before the New Jersey Bureau of Securities (NJ BOS) will enforce a ban on the creation of new BlockFi Interest Accounts (BIAs).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
BlockFi tweeted on Wednesday that the postponement followed ongoing talks between BlockFi and NJ BOS “to provide more details about the BIA.”
An update on regulatory conversations: pic.twitter.com/0TYqSfBk4i
— BlockFi (@BlockFi) July 28, 2021
NJ BOS’s order was originally set to go into effect on July 22, and then was delayed until Thursday.
BlockFi is facing similar scrutiny of its interest-bearing crypto accounts from Texas and Alabama. In its tweet, BlockFi said it is in "active dialogue with multiple regulators" regarding its BIAs.
NJ BOS has argued that the BlockFi Interest Accounts amount to unregistered securities, while BlockFi has said that they are not.
“We firmly believe that the BIA is lawful and appropriate for crypto market participants, and we remain steadfast in our commitment to fight for consumers rights to earn interest on their crypto assets,” BlockFi wrote in its tweet on Wednesday.
BlockFi had no additional comment on the matter, while the NJ BOS could not be immediately reached.
BlockFi has maintained that the New Jersey order does not affect existing BlockFi customers or any of its other products, a claim the NJ BOS order appears to support.
Less clear, though, is the extent to which this could affect new BlockFi customers and whether the order’s impact could spread beyond New Jersey.
NJ BOS has said BlockFi holds $14.7 billion in assets through its BIA product, although how much of that is held by New Jersey consumers is unclear.
The New Jersey-based company has indicated it plans to go public in the next 12 to 18 months.
Danny Nelson contributed reporting.
Lebih untuk Anda
Yang perlu diketahui:
- 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.
Lebih untuk Anda
Tom Lee responds to controversy surrounding Fundstrat’s differing bitcoin outlooks
A debate on X over seemingly conflicting bitcoin forecasts from Fundstrat analysts drew a response from Tom Lee, highlighting differing mandates and time horizons.
Yang perlu diketahui:
- X users flagged what appeared to be conflicting bitcoin outlooks from Fundstrat’s Tom Lee and Sean Farrell.
- Lee endorsed a post arguing the views reflect different mandates and time horizons, not internal disagreement.
- The episode highlights how public commentary can blur distinctions between short-term risk management and long-term macro views.
Top Stories
