{ "media_type": "text", "post_content": "Why is BlockFi targeted by regulators (ie can’t take addition crypto for interest bearing accounts and lending) but other brokerages are immune to these regulations? Others like Voyager, Celsius, and even Coinbase have “Earn” accounts and have had no regulatory consequences. Any thoughts?", "post_id": "622822f9b5a0cd002cb2fb92", "reply_count": 6, "vote_count": 1, "bowl_id": "58f9471ab298570010451a0a", "bowl_name": "Everything crypto", "feed_type": "bowl" }

Why is BlockFi targeted by regulators (ie can’t take addition crypto for interest bearing accounts and lending) but other brokerages are immune to these regulations? Others like Voyager, Celsius, and even Coinbase have “Earn” accounts and have had no regulatory consequences. Any thoughts?

like
Posting as :
works at
You are currently posting as works at

So Coinbase before providing such “interest on stable coins” service went to SEC and asked for their guidance as there are no clear SEC rules regarding earning interest on a crypto. SEC said we won’t provide guidance but what you are trying to do is providing unregistered security and is a violation. Coinbase was shocked and scrapped the entire project. The earn program is just giving some coins if you watch a video and not related to earning interest. SEC is going after every CEX individually. SEC reached out to Gemini, Voyeger, Celsius and BlockFi and asked them for more info. Now BlockFi want to go public. So, they volunteered to pay $100mil and settle before they go public.

SEC is shambolic

like

This will get closed soon. Enjoy while you can! ;)

They really don’t want us making interest from crypto for some reason.

They don't want you taking money from banks, from their ‘finance system’. ;)

Additional Posts in Everything crypto

like

Fam... I’ve been thinking about buying a home for sometime now. Is this a good time to purchase? Do you feel market prices will go down? Thanks!

like

At what point in the interview process (lateral in this case) do you realize you’ve been rejected? I’m assuming people don’t send our rejection letters. Do you reach out to the firm? If so, how long after the last interview ?

likehelpful

Hey guys,
I got offer from two companies
F5 Networks Hyderabad and Rakuten Bangalore
Profile :- Android Dev

Which one to choose
As reviews of Rakuten isn't that good as F5 has
But location wise Rakuten is better and better brand too

Can some one help F5 Networks Rakuten

like

I work as an officer in HAL, 12 CTC.
I see growth is low i.e increment of 3 % every year.
Planning to switch into MNCs, is it a right decision to leave a public sector unit?

What salary would be ok to leave my current job?

like

In barclays portal my status is showing "offer approved". In how many days will I get the OL?

like

I work in kindergarten. Do not let those precious faces fool you.

likefunny

if a guy pays for your meal is it definitely a date? Is there ever a situation where you two could just be friends? seeking clarity LOL

like

Hi Designers! I’d love to know if someone who has a psychology and research background, now a UX designer, can move into UI… maybe even Visual design… maybe even Branding? What do people think?

likehelpful

Does your agency or in-house team have a “social command centre”? Is that terminology or approach out-dated now?

Anyone in NY looking to form a skiing group? Hopefully someone has a car for weekend ski trips or we can figure out how to organize

like

Question about Clerky templates.
Are the templates they offer for things like meeting minutes, operating agreements, etc. better than/worse than/equivalent to the forms you can get through Westlaw?

like

What do you do if an ex coworker blatantly adds work to their book that they had nothing to do with? Conception or execution

like

King Rafa 🇪🇸

like

Has anyone ever made another email to apply for an opportunity you’ve been rejected to? I saw a posting which I was rejected for but I want to try to shoot my shot again since they reposted it

like

FET medication protocols - Any thoughts on HRT (estrogen + progesterone) vs. letrozole? My doc prescribed the former without explanation, but a little Googling shows the latter seems to have higher success rates. Wondering why I’d be placed on HRT/if it’s worth raising this to my doc.

like

Hey Fishes,
What's the trending tech stack these days in web/software development that pays you well? And how can you switch from your current profile to that?

like

For folks looking for new roles (either actively or passively), where are you looking? What sites, apps, etc. (I'm interested in hearing about option *other* than recruiters.)

like

Does JPMorgan do referrals?

like

Is anyone aware of Bartleby Technologies Bengaluru? How is work culture and job security for Machine engineer role ?

like

Additional Posts (overall)

OMG or REQ on this dip? I've got both and am staying in it for the long term on these. I've got 2x more invested in OMG than REQ as it stands.

For those with huge losses please stay strong - hearing about suicides and stuff is very sad, don’t do anything stupid people

like

20-30% off sale right now across the board

likefunny

To the McK person that dropped 500k into voyager a while back. Now that they have lower interest for above 100k did you move cash out?

like

Coinbase - Is there a fee if I buy ETH using money from USD wallet?

like

Nav coin broke $1

like

I’m just now moving my tron out of Binance. They’re giving me 7 days, and if I skip a day, I’ll lose money for good, they say. I can only take out .06 Bitcoin worth per day. So stupid, but I guess I’m lucky I only had .4 Bitcoin worth.

likefunny

What will the adoption of CBDCs mean for Bitcoin?

like

BITO etf or actuals bit coins using coinbase pro, Gemini, voyeger, etc..

like

How much are you in red? I'll start 2K on a 16K portfolio

like

Most made in crypto?? All together removing your cost basis 💰💰💰

Is it just a hype for BCH?

like

How is everyone feeling today bear trap or bull trap? Or just buy the dip?

like

Anybody into BDG?

🔮Sell everything you bag holders🔮

Post Photo
like

Alright 🐠 I haven’t posted here in awhile. Willy Woo and a few other legit analysts are predicting BTC has a 10x pump from this point (200k BTC). However based on the numbers (top-to-too cycle, log growth curves, rainbow growth curves, etc.) BTC should 5-6x max from this point (100-120k BTC). What’s your honest prediction and why? I’m planning out my exit strategy now and want some second thoughts 👍

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy.

Already have an account? Log in

New to Fishbowl?

image with Fishbowl logo and arms reaching out for a handshake

Already have an account? Log in

By continuing you agree to Terms of Use and Privacy Policy.
Messaging rates may apply

For account settings, visit Fishbowl on Desktop Browser or

General

Legal