U.S. SEC to Forego $30M BlockFi Fine to Maximize and Speed Up Investor Repayment

The U.S. Securities and Exchange Commission (SEC) has agreed to forego a $30 million fine from bankrupt crypto lender BlockFi until after investors are repaid, a court filing from Thursday shows.

The sum is what’s left over from a $50 million penalty owed to the SEC by BlockFi to settle charges of failing to register with the regulator for the offering and sale of its crypto lending product. The platform agreed to the settlement in February 2022 but filed for bankruptcy in November following the collapse of crypto exchange FTX.

Source: U.S. SEC to Forego $30M BlockFi Fine to Maximize and Speed Up Investor Repayment