The state of Vermont joined New Jersey, Alamanda & Taxas to hammer on BlockFi

The BlockFi lending platform updated their announcement page regarding the issues that are raised by many regulation authorities. According to them The regulators of the state of Vermont also raised issues against BlockFi. 

These days, BlockFi is facing lots of issues from the end of regulatory authorities. In the very beginning New Jersey regulators entered into this matter. And after that Alabama & Taxas also entered according to today’s report that we covered. Now this is Vermont.

Related: Texas and Alabama raised issues against BlockFi , After New Jersey

The state of Vermont also raised issues against BlockFi regarding their BIAs (BlockFi Interest Accounts) legality. As every regulation authority raised issues based on the legality of “sale securities by BlockFi”. And few of them blamed the interest rate for crypto assets lending. 

Since BlockFi didn’t reveal anything about this matter that the regulators of the state of Vermont said but they clearly mentioned that they raised an issue against them.

Probably this is really a big thing that we can see in the crypto industry, where groupism is going on at a tremendous level. A big example of groupism can be seen in the case of Binance, as we already said. Even those regulation authorities are raising issues against Binance, which have no problems against Binance services but still they want to get attraction from the industry to show off that they are doing something better with ideality. Well now BlockFi seems to face lots of issues for the long term.

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