California Investigating Crypto Lenders

What is happening? States are investigating crypto lenders as multiple cyrpto lenders have suspended transactions. California  Department of Financial Protection and Innovation is taking the lead for the state.

Why is this important? Issues that will be investigated include whether customers were made aware of the potential risks

How will this be important? In recent months the California Department of Financial Protection and Innovation has determined that “some crypto interest accounts from such sites constituted unregistered securities after conducting an investigation.”

The Crypto Currency Post | California Launches An Investigation Into Crypto Companies