BlockFi Wins a License to Operate in the State of Iowa
Main page News, US, Regulations, Cryptocurrency
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June 30, 2022

BlockFi, a crypto lending platform, has just received a license that allows it to offer financial services in the state of Iowa (USA).

According to the publication:

"Iowa residents can now trade stablecoins on our platform and instantly transfer funds via ACH."

The local regulator imposed a $943,000 fine on BlockFi last June 14 for violating the law. According to the authorities, the platform "offered and sold securities in Iowa that were not registered or authorized for sale" and was not licensed as a broker or dealer.

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Prior to this, the company had already faced regulatory problems at the state level. Thus, supervisory agencies in New Jersey, Alabama and Vermont have previously filed complaints against the company.

In November last year, it was reported that the US Securities and Exchange Commission (SEC) had launched an investigation into BlockFi. It subsequently emerged the company had settled the dispute with the SEC.

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