Posts

Showing posts with the label law

BlockFi to provide over $100K in refunds to California clients

Image
At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn't need to, according to court documents. Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year.  According to a March 27 statement from California's financial watchdog, the Department of Financial Protection and Innovation (DFPI), its investigation discovered at least 111 borrowers in California paid back roughly $103,471 in loan repayments between Nov. 11 and Nov. 22. The regulator claimed that BlockFi failed to "provide timely notification to borrowers that they could stop repaying their BlockFi loans." Californian @BlockFi users: BlockFi to refund over $100k after failing to notify borrowers about halting repayments post-FTX crash. The motion was filed, with a hearing set for April 19, 2023. Updates to follow. More info: https://t.co/b...

State caps or federal regulation: What's next for political crypto donations

Image
The industry isn’t having the best of its moments now, but the topic of campaign donations in crypto remains a relatively safe space for innovation. On Jan. 25, the Committee on Elections introduced a bill to the Kansas House of Representatives aimed at capping political donation s via crypto at $100. Regardless of the success of this legislative initiative, the state of Kanzas won’t be the first jurisdiction to target anonymous donation s. From authoritarian nations like Russia or China to electoral democracies like Ireland or Canada, one can find recent attempts to ban crypto donation s to politicians all around the globe.  The opponents of crypto may have a strong point — it’s hard to imagine a healthy democracy where large sums of untraceable money are flowing between candidates. But the problem of “dark money” and tools to dispense it around the political system existed way before pseudonymous crypto assets arrived. The industry isn’t having the best of its moments now, but ...