The SEC: Hit BlockFi for failing to register its crypto-lending program; Stopped Coinbase from launching its crypto-lending program; and Just hit Gemini/Genesis's for its Earn crypto-lending grift. Buckle up: An SEC regulatory onslaught is just beginning.
sec.gov/news/press-rel
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Can’t say for sure Jeremy, but here are my crypto-related predictions for 2023:
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My BlockFi credit card, stopped working, and my Bitcoin bonus got frozen, you think I will get anything back? It still shows on my credit report as having 10k in credit, but in reality the card doenst work. lol
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When was stopped on it’s plans that was a BIG signal to stay away from staking for outrageous APYs - exchanges in Asia that avoid regulations are high risk.
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John, settled for $100M. What changed? Did It register its crypto lending yield receiving product b/c the BlockFi continued w/it after the settlement. Was it registered w/the SEC? Did the market get any further clarity considering the product continued? Was it a tax?
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I’m not being argumentative. I’m asking serious questions. There is a valid argument that some of these yield products fall under the purview of the SEC. There should’ve been some clarity however after the BlockFi settlement since the product continued.
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