SEC Delays $30M BlockFi Penalty to Prioritize Investor Repayment
TL;DR Summary
The SEC has agreed to waive a $30 million fine from BlockFi until investors are repaid. The sum is what's left over from a $50 million penalty owed to the SEC by BlockFi to settle charges of failing to register with the regulator for the offering and sale of its crypto lending product. BlockFi filed for bankruptcy in November following the collapse of crypto exchange FTX. A New Jersey bankruptcy court judge said BlockFi customers can be repaid $300 million in funds held in custodial wallets on the platform.
- SEC Relinquishes $30M BlockFi Penalty Until Investors Are Repaid CoinDesk
- SEC waives BlockFi's $30M fine until creditors are paid Cointelegraph
- SEC allows BlockFi customers to be repaid before collection of $30.2M fine CryptoSlate
- SEC to Forego BlockFi’s Outstanding $30 Million Penalty—For Now Decrypt
- View Full Coverage on Google News
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