BlockFi has now reinstated the BlockFi Yield service for high-yield encrypted savings accounts

BlockBeats, on November 8, BlockFi, a crypto lending company, was granted an exemption from the Securities and Exchange Commission (SEC) through the registration requirements of the Securities Act of 1933, reinstating BlockFi Yield, a high-yield crypto savings account, And only U.S. Qualified Investor customers (about 13% of total U.S. households) can earn interest through BlockFi Yield, which offers interest in 15 different cryptocurrencies. BlockBeats previously reported that on Feb. 12, sources familiar with the matter said BlockFi Inc. Prepared to pay $100 million to settle charges by the Securities and Exchange Commission and local regulators that it illegally offered customers a product that paid high interest rates to lend out digital tokens. The penalties, which could come as early as next week, are expected to be among the toughest yet imposed by US regulators on a cryptocurrency company. The U.S. Securities and Exchange Commission and local regulators have been investigating whether BlockFi offers related products that are "securities subject to SEC registration."