DFPI
The California Department of Financial Protection and Innovation has issued a consent order against a Cayman Islands-based crypto lending company, requiring it to pay a $500,000 penalty. The regulator found the firm operated without a required license and neglected to assess borrowers' repayment ability from 2018 to 2022. The company must now cease violations and transfer customer funds to a licensed entity.
Rapporteret af AI
A fraudulent letter is impersonating California's Department of Financial Protection and Innovation to request a security deposit for crypto mining activities. The alert warns consumers about this scam. It was issued on December 5, 2025.