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⏰ Commitment Time: 03:00 AM, May 13th - 12:00 PM, May 16th (UTC)
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Learn More: https://www.gate.io/article/44878
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The SEC took an unexpected step and shelved the penalty it gave to the bankrupt cryptocurrency company BlockFi. Previously, the SEC fined $30 million for not registering with BlockFi. But now the regulator has taken an important decision to enable the platform to make payments to its users faster. The SEC waived the remainder of the penalty imposed on BlockFi to accelerate payments to investors.
The SEC's filing said it waived the $30 million fine. With this decision, it was emphasized that the SEC primarily wanted BlockFi to pay customers. In the company's bankruptcy filing, it was noted that the SEC's name was at the top of the credit list. This development could ease BlockFi's hand and improve its position in the bankruptcy process.
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