Holpop News

BlockFi will register its high-yield cryptocurrency product with the U.S. Securities and Exchange Commission (SEC). According to a statement from the company, it intends to confidentially file an S-1 application with the SEC to register a new cryptocurrency product called BlockFi Yield.
BlockFi will also pay an SEC fine of $50 million and $50 million to regulators in 32 states.
“This is the first case of its kind against cryptocurrency platforms. Today’s settlement clearly shows that cryptocurrency markets must comply with time-tested securities laws,” said SEC Chairman Gary Gensler.
Existing savings account holders will continue to receive interest from digital assets, but will no longer be able to add them to their accounts.