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26 July 2021

Texas alleges that BlockFi is offering unregistered securities

Texas alleges that BlockFi is offering unregistered securities


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The Texas State Securities Board has filed for a cease and desist order against crypto lending firm BlockFi for not offering a security licensed at the state or federal level.

13 virtual hearing, BlockFi and its affiliates BlockFi Lending and BlockFi Trading would likely be required to stop offering BlockFi Interest Accounts in the state without registering with a local regulator or the U.S.

Texas’ Enforcement Division of the State Securities Board notified BlockFi on April 20 that it may not have been in compliance with the state’s Securities Act with its interest accounts.

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