Encryption lawyers say BlockFi is most likely to pay the SEC first

BlockBeats, Nov. 30 Sasha Hodder, founder of crypto Law firm Hodder Law, said Tuesday that BlockFi is most likely to pay the U.S. Securities and Exchange Commission (SEC) first, according to CoinDesk. "The client is at the bottom of the queue," says Sasha Hodder. "It's a stretch that they'll get their money back." In February, BlockFi reached a $50 million settlement with the SEC for failing to register the offering of its crypto loan product. It also agreed to pay an additional $50 million to states that filed similar charges. BlockFi has about $30 million in unpaid SEC fines.