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California Authorities Demand MyConstant Stop Crypto-Lending
The California Department of Financial Protection and Innovation (DFPI) has ordered MyConstant to stop selling many crypto-related products due to state securities law breaches. The company's peer-to-peer loan brokering and interest-bearing crypto asset accounts violate California securities and consumer financial laws.
‘Multiple’ Crypto Lending Firms Are Under Investigation, Says California Regulator
DFPI is investigating several firms offering “crypto-interest accounts” after these platforms abruptly suspended funds withdrawals. These firms have recently put the lives of millions of consumers at risk.