Regional News

BlockFi Settles For $100-Million

(Salem, OR)  --  The cryptocurrency financial institution BlockFi will pay 100 million dollars in a multi-state settlement.  The Oregon Division of Financial Regulation says BlockFi violated Oregon Securities Law.  The company wasn't registered in Oregon.  BlockFi would take cryptocurrencies and promised investors at least six-point-two percent interest each month.  They told investors that loans were overcollateralized, when they weren't.  Money from the settlement will be split between the SEC and states.  Oregon will get nearly one-million dollars.

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