California Regulator Issues Refrain Order to Crypto Platform MyConstant, Citing Violation of Financial Laws

According to the California regulator, the protocol’s peer-to-peer lending service and interest-bearing accounts violate state law.

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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)

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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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