3 States vs. BlockFi: Should You Close Your Account?

#BlockFi #CryptoCurrency #CryptoBanking Alabama, Texas, and New Jersey are states that you typically wouldn’t think have much in common. This year has seen them united around one thing: filing suit against cryptocurrency finapp BlockFi. After receiving a few cease and desist orders from these states, BlockFi finds itself in a position where they have to defend their business as being legal and guard against government intrusion. Meanwhile, the states are attempting to protect their citizens from schemes as well as companies that are trying to avoid regulation by not claiming their products (BIA - BlockFi Interest Accounts) are not securities and aren’t subject to state and federal law.