Violation Tracker Individual Record
: BlockFi Lending LLC
: February 14, 2022
: financial offenses
: investor protection violation
: The Securities and Exchange Commission charged BlockFi Lending LLC with failing to register the offers and sales of its retail crypto lending product. In this first-of-its-kind action, the SEC also charged BlockFi with violating the registration provisions of the Investment Company Act of 1940. To settle the SEC's charges, BlockFi agreed to pay a $50 million penalty, cease its unregistered offers and sales of the lending product.
Level of Government
: agency action
: Securities and Exchange Commission
Civil or Criminal Case
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Current parent company note
: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log