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CATEGORY: dfpi


Feb 17, 2023 09:00

DFPI Unveils Crypto Scam Tracker To Help Californians Avoid Fraudulent Activities

The Department of Financial Protection and Innovation has taken a significant step towards safeguarding Californians from cryptocurrency scams. In an announcement, the agency unveiled the DFPI Crypto Scam Tracker, “a database searchable by company name, scam type, or keywords.” As per the DFPI, scammers are exploiting people’s growing interest in digital assets to prey on […]

Dec 22, 2022 10:35

California Authorities Demand MyConstant Stop Crypto-Lending


The California Department of Financial Protection and Innovation (DFPI) has ordered MyConstant to stop selling many crypto-related products due to state securities law breaches. The company's peer-to-peer loan brokering and interest-bearing crypto asset accounts violate California securities and consumer financial laws. (Read More)

Nov 13, 2022 12:25

BlockFi No Longer Lending in California, DFPI Moves to Suspend License

Following the FTX crisis, California’s Department of Financial Protection and Innovation (DFPI) suspended cryptocurrency lender BlockFi’s license for 30 days, pending an investigation into the company’s recent decision to limit its business operations. After Terra Luna’s disaster, the demise of FTX and the uncertainty it caused were seen as another damaging blow. The extent of the damage […]

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