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Violation Tracker Individual Record

Company: BlockFi Lending LLC
Penalty: $50,000,000
Year: 2022
Date: February 14, 2022
Offense Group: financial offenses
Primary Offense: investor protection violation
Mega-Scandal: Cryptocurrency
Violation Description: 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: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.