The California Department of Financial Protection and Innovation (DFPI) permanently revoked the license of the cryptocurrency lending institution BlockFi two years after its bankruptcy. DFPI stated that BlockFi also reached a settlement agreement, agreeing to revoke its license, cease and avoid violations, and stop unsafe practices. In May 2024, the defunct crypto lending institution terminated its online platform, and a few months later, BlockFi's license was revoked in California. After the shutdown, customers will no longer be able to access the BlockFi platform.

PANews, November 8 — According to Cointelegraph, the California Department of Financial Protection and Innovation (DFPI) has permanently revoked the license of the cryptocurrency lending institution BlockFi, two years after its bankruptcy. The DFPI stated that BlockFi has also reached a settlement agreement, agreeing to withdraw its license, cease and avoid violations, and stop unsafe practices.

In May 2024, this now-defunct crypto lending institution terminated its online platform, and a few months later, BlockFi's license was revoked in California. After the shutdown, customers will no longer be able to access the BlockFi platform.

California revokes BlockFi's lending license two years after its bankruptcy.