Texas Securities Commission requested extension of proceedings with BlockFi

Texas Securities Commission seeks extension of action on BlockFi, Golden Financial announced Thursday that regulators in Texas have declared BlockFi interest-bearing products (BIAs) to be regulated by the state. The Texas Board of Security (TSSB) has filed a defamation lawsuit against BlockFi, BlockFi Business and BlockFi Lending, hoping to get a judge's approval after the trial hearing in October. The case gave BlockFi time to respond to the allegations, but the company could proceed with the hearing. Joe Rotunda of TSSB said the ruling gave BlockFi and its affiliates time to respond to our claims and provide evidence.