California Finance Regulator Moves to Suspend Crypto Lender Salt’s License
California's Department of Financial Protection and Innovation (DFPI) said Wednesday it was moving to suspend Salt’s license for 30 days as the regulator investigates the crypto lender’s decision this week to pause client withdrawals.
On Tuesday, Salt announced it was pausing client withdrawals and deposits due to the impact of the collapse of crypto exchange FTX.
Also on Tuesday, online investing platform Bnk To The Future said it had terminated its previously announced non-binding letter of intent to acquire Salt due to the latter’s FTX exposure.
The DFPI took a similar action to suspend the license of crypto lender BlockFi last week for also halting withdrawals due to FTX’s collapse. The department said it is also separately investing FTX.
Related news
UK Law Enforcement Agencies Can Now Seize Crypto More Easily as New Rules Take Effect
Consensys Sues SEC Over ‘Unlawful Seizure Of Authority’ Over Ethereum
Jebara Igbara, AKA 'Jay Mazini,' Sentenced to 7 Years in Prison for Crypto-Related Fraud
Stablecoin Bill Could be Ready for the U.S. House Soon Says Top Democrat Maxine Waters: Bloomberg
Samourai Wallet Founders Arrested and Charged With Money Laundering
