@BOMBERuss 12 February 2022 more from that month

Bloomberg News reported that the BlockFi crypto lending platform will pay $100 million to settle investigations into its interest-bearing accounts, which attracted public attention from state-level securities regulators in the US last year. Citing sources familiar with the process, the news agency reported that $50 million will be paid to the Securities and Exchange Commission and another $50 million to state regulators. The announcement is expected and may appear "as early as next week," Bloomberg reports. As previously reported, regulators in New Jersey, Alabama, Texas, Kentucky and Vermont have launched an investigation into whether BlockFi's offer falls under the definition of securities. These steps were taken against the background of a broader investigation in the United States of companies involved in lending cryptocurrencies. The head of the SEC, Gary Gensler, pointed to crypto lending as an area of interest as his agency expands its oversight of the US crypto sector. In a statement posted on Twitter on Friday evening, BlockFi said that "we are engaged in a productive ongoing dialogue with regulators at the federal and state levels."