Powers On… The SEC takes reactionary moves against crypto lending
It is unfortunate that the United States Securities and Exchange Commission has chosen to send a message to the crypto industry by extracting a huge $100 million settlement from the lending platform BlockFi in an administrative proceeding publicly announced on Feb. 14. It was quite a Valentines Day kiss $50 million for the SEC and $50 million for some 32 states that piled on because they saw an easy target.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on Blockchain & the Law.
The U.S. regulatory landscape
The BlockFi settlement
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