Category: Fines

SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

The penalty comes after months of heightened regulatory attention to crypto lending platforms. 1660 Total views 51 Total shares On Feb. 14, the Securities and Exchange Commission, or SEC, announced actions against crypto lending company BlockFi over its failure to register high-yield interest accounts that the agency deems to be securities. New Jersey-based BlockFi will […]

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Korean crypto exchanges could soon face fines for gaps in due diligence measures

Korean crypto exchanges could soon face fines for gaps in due diligence measures

South Korean financial regulators are developing a penalty regime for Anti-Money Laundering and Know Your Customer violations by cryptocurrency exchanges. 3376 Total views 23 Total shares South Korean crypto exchanges that don’t take extensive data collection and identity verification measures could soon be subject to heavy fines.  According to an official announcement Wednesday, South Korea’s […]

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