Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.
The California Department of Financial Protection and Innovation (DFPI) has permanently revoked the license of bankrupt cryptocurrency lender BlockFi two years after bankruptcy.
Announcing the news on Nov. 7, California’s DFPI mentioned that the license revocation resulted from an examination by the regulator after it suspended BlockFi’s license in November 2022.
BlockFi also entered into a settlement agreeing to the license revocation, to desist and refrain from the violations and to cease unsafe practices, the DFPI said.
