{"id":46923,"date":"2021-07-29T18:01:36","date_gmt":"2021-07-29T15:01:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46923"},"modified":"2025-09-01T18:49:04","modified_gmt":"2025-09-01T15:49:04","slug":"new-jersey-regulator-delays-september-start-of-blockfi-ban-on-new-bia-accounts","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/new-jersey-regulator-delays-september-start-of-blockfi-ban-on-new-bia-accounts\/","title":{"rendered":"New Jersey regulator delays September start of BlockFi ban on new BIA accounts"},"content":{"rendered":"<p>The New Jersey Bureau of Securities moved the effective date to September 2 for BlockFi&#8217;s ban on opening new <span data-descr=\"BlockFi Interest Account\" class=\"old_tooltip\">BIA<\/span> accounts for state residents.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">An update on regulatory conversations: <a href=\"https:\/\/t.co\/0TYqSfBk4i\">pic.twitter.com\/0TYqSfBk4i<\/a><\/p>\n<p>\u2014 BlockFi (@BlockFi) <a href=\"https:\/\/twitter.com\/BlockFi\/status\/1420373376582004742?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm said the decision reflected ongoing dialogue with regulators.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We are firmly convinced that BIA is a legitimate [instrument] and suitable for investors. We will continue the fight for consumers to receive interest on their assets&#8221;<\/em>, the document says.<\/p>\n<\/blockquote>\n<p>The company said it would continue dialogue with authorities, which could yield proper oversight for the industry.<\/p>\n<p>In a <a href=\"https:\/\/blockfi.com\/blockfi-founder-and-ceo-zac-prince-on-conversations-with-regulators\">blog<\/a> post, BlockFi CEO Zac Prince again reminded that existing clients can still access all BlockFi products, services and assets.<\/p>\n<p>In addition to the New Jersey Bureau of Securities <a href=\"https:\/\/u1f987.com\/en\/news\/regulator-bars-blockfi-from-opening-new-accounts-for-new-jersey-residents\">New Jersey<\/a>, regulators in <a href=\"https:\/\/u1f987.com\/en\/news\/alabama-regulator-accuses-blockfi-of-selling-unregistered-securities\">Alabama<\/a>, Texas and <a href=\"https:\/\/u1f987.com\/en\/news\/vermont-regulators-launch-probe-into-blockfis-activities\">Vermont<\/a> have also filed similar claims against BlockFi.<\/p>\n<p>Earlier, BlockFi said it planned to close a financing round valued at $4.75 billion and, within 12-18 months, to go public via an <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span>.<\/p>\n<p>Follow ForkLog News on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Jersey&#8217;s Bureau of Securities moved the effective date to September 2 for BlockFi&#8217;s ban on opening new BIA accounts, citing ongoing regulatory dialogue. BlockFi says BIA remains a legitimate instrument and that existing clients can still access all products, services and assets. Regulators in Alabama, Texas and Vermont have also filed similar claims against BlockFi. BlockFi has signaled a financing round valued at $4.75 billion with plans for an IPO within 12\u201318 months.<\/p>\n","protected":false},"author":1,"featured_media":46924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"New Jersey regulator delays September start of BlockFi's ban on new BIA accounts amid ongoing dialogue with regulators.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,36,26],"class_list":["post-46923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"New Jersey regulator delays September start of BlockFi's ban on new BIA accounts amid ongoing dialogue with regulators.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46923"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46923\/revisions"}],"predecessor-version":[{"id":46925,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46923\/revisions\/46925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46924"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}