BlockFi Receives Cease And Desist Order In New Jersey – July 20

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $29,693

Bitcoin price has plummeted below $30,000 support overnight, with price now consolidating within the $29,000s.

Top-20 altcoins have seen significant drawdowns across the board, as Ethereum falls 6%, Binance Coin drops 11% and Polygon tumbles 16%.

Top Stories for July 20, 2021 πŸ”₯

πŸ‘‰ BlockFi Receives Cease And Desist Order In New Jersey

Crypto financial services platform, BlockFi, has received an order from the New Jersey Bureau of Securities to cease accepting new interest accounts in the state.

A Forbes report alleges that BlockFi’s interest accounts are partly powered via the sale of unregistered securities, in violation of securities laws.

The company will continue to serve its existing customers in New Jersey,.

πŸ‘‰ Bank Of Korea Taps Kakao Blockchain Arm For CBDC Pilots

South Korea’s central bank has selected internet giant Kakao’s blockchain arm to provide technology for central bank digital currency (CBDC) pilot programs.

The Kakao subsidiary, known as “Ground X”, will become the CBDC’s primary technology supplier for blockchain-based digital won tests.

They will also work with the well-known American blockchain firm, ConsenSys.

πŸ‘‰ Polygon Launches Gaming Unit For Games And NFTs

Ethereum scaling solution, Polygon, has announced the launch of Polygon Studios, a unit targeted at gaming and NFTs.

The new unit seeks to bridge the gap between “Web 2” and “Web 3” gaming, including possible partnerships with major brands and franchises.