2 years ago
Another crypto institution is nether occurrence successful New Jersey for offering allegedly amerciable cryptocurrency involvement accounts.
On Tuesday, the authorities Bureau of Securities ordered Voyager Digital LLC to "cease and desist" its merchantability of "Voyager Earn Program Accounts." It alleged the fashionable product, which it said has 1.5 cardinal users and holds $5 cardinal successful assets, was an unregistered security, and truthful illegal.
"The Bureau Chief enters this Order to support the investing nationalist by halting the connection and merchantability of these unregistered securities" the bid read. While seeking the halting caller inflows, the bid does not question to halt Voyager from paying involvement connected preexisting accounts.
The crypto industry's seen this playbook before. Last year's New Jersey-led action against BlockFi's involvement merchandise yet forced the crypto lender to rethink its regulatory strategy.
Voyager Digital CEO Steve Ehrlich did not prime up the phone.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Danny is CoinDesk's lawman concern editor. He owns BTC, ETH and SOL.
Sign up for State of Crypto, our play newsletter examining the intersection of cryptocurrency and government
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 