NEW: investvoyager ordered to 'cease and desist' offering crypto interest-earning accounts in New Jersey. realDannyNelson reports
Steve Ehrlich, co-founder and CEO of Voyager
Another crypto company is under fire in New Jersey for offering allegedly illegal cryptocurrency interest accounts.Voyager Digital LLC to"cease and desist" its sale of"Voyager Earn Program Accounts." It alleged the popular product, which it said has 1.5 million users and holds $5 billion in assets, was an unregistered security, and therefore illegal.
"The Bureau Chief enters this Order to protect the investing public by halting the offer and sale of these unregistered securities," the order read. While seeking the halting new inflows, the order does not seek to stop Voyager from paying interest on preexisting accounts.against BlockFi's interest product ultimately forced the crypto lender to rethink its regulatory strategy.
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