SEC, California, Federal Reserve beat Silvergate Bank’s dead horse
The U.S. securities regulator announced that it had filed charges against Silvergate Capital Corporation, which operated the California-based 'crypto-friendly' Silvergate Bank.
Latest Department of Financial Protection and Innovation News
California governor approves digital asset regulation bill for 2025
Gavin Newsom ratified Assembly Bill 39, which is expected to be enacted in 2025, mandating businesses and individuals engaged in digital asset activities to adhere to the latest policies.
California financial regulator sets up real-time digital currency scam tracker
To counter the proliferating scams in the digital asset sector, the DFPI utilizes a scam tracker that displays the name and website used to lure victims and the type of scam employed.
California consumer protection body eyes regulating digital currencies
Under the proposed bill, firms offering digital currency trading and services would need to apply for a permit with DFPI, a step taken to reduce the risks associated with investing in digital assets.
California flags 17 virtual currency websites for alleged fraudulent activities
Scammers use age-old methods like phishing and impersonation to lure victims into investing in the lucrative digital asset sector, promising mouthwatering returns which never materialized, according to authorities.
Lending firm MyConstant breaches securities law, ordered to stop offering digital asset products
Despite being flagged for unlicensed loan brokering, MyConstant says it will continue to offer some of its services to investors, including virtual currency-backed loans.
California’s financial regulator suspends SALT Lending’s license
Digital asset lender SALT blamed the recent FTX collapse for its financial turmoil but noted that it is working with relevant stakeholders to resolve the debacle.
California watchdog issues cease and desist order against Celsius Network
Celsius has been violating securities regulations by offering its Earn Rewards accounts in the state while also making materially false statements, according to the Department of Financial Protection and Innovation.