New Jersey Watchdog Postpones Ban for BlockFi's Interest-bearing Accounts
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The New Jersey Bureau of Securities has postponed its order for BlockFi to stop creating new interest-bearing accounts operations in the state. Zac Prince, BlockFi Founder and CEO, said in an official statement that the financial watchdog postponed the effective date of its order to Thursday, September 2, 2021.

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"While the NJ BOS's order calls for preventing the creation of all new BIAs, it has no impact on current BIA clients or any of our other products. Rest assured, your access to BlockFi is completely unimpaired," Prince wrote.

BlockFi Mistakenly Giveaways Bitcoins, Threatens to File Lawsuits

The move comes after four financial regulator issued warnings against BlockFi. According to the New Jersey Bureau of Securities, BlockFi has been funding its business at least partly through the sale of unregistered securities. Hence, the New Jersey Bureau of Securities assumes the company violated relevant securities laws.

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