With latest probe, Vermont Is playing an outsize role in regulating cryptocurrency – WCAX

With latest probe, Vermont Is playing an outsize role in regulating cryptocurrency – WCAX

Blockchain Crypto Market Technology
September 15, 2022 by Coinvasity
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BURLINGTON, Vt. (WCAX) – Vermont is by no means a crypto epicenter, but over the last few years, officials in the Vermont Department of Financial Regulation have quietly been probing similar companies for securities compliance issues that federal regulators have been slow to take up.DFR’s first investigation led to a trailblazing $100 million national settlement
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BURLINGTON, Vt. (WCAX) – Vermont is by no means a crypto epicenter, but over the last few years, officials in the Vermont Department of Financial Regulation have quietly been probing similar companies for securities compliance issues that federal regulators have been slow to take up.
DFR’s first investigation led to a trailblazing $100 million national settlement earlier this year with a crypto lending company called BlockFi. Now, the agency is at the forefront of a multistate probe into Celsius, whose alleged mismanagement has ensnared the savings of more than 250 Vermonters.
Darren Perron spoke with Seven Days’ Colin Flanders who reported on the story for this week’s issue.
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