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California revokes BlockFi’s lending license 2 years after bankruptcy

[Nov 8 10:01 AM] Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.

Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California

[Sep 4 10:10 PM] A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new…

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

[May 1, 2023 6:35 AM] On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the…

Crypto firms alleged to have faked execs using AI and actors: Cali regulator

[Apr 20, 2023 9:38 PM] The regulator is cracking down on high-yield investment products saying the programs raise hype with the promise of high returns before going dark.

California regulators order MyConstant to cease crypto-lending services

[Dec 21, 2022 9:48 PM] The California DFPI warned in July that it would be cracking down on crypto interest account providers in the state.

California Regulator Reveals Investigation Into FTX’s Failure, Says ‘Crypto Assets Are High-Risk Investments’

[Nov 11, 2022 8:00 AM] After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published…