United States of America: DFPI Investigation into CONST LLC for Alleged Violations of California Securities and Consumer Financial Protection Law
Progress
Current status
in force
21 Dec 2022 in force
Scope
Implementers
United States of America
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
subnational
Timeline of events
Issued cease and desist ruling against CONST LLC due to violations of California Securities and Consumer Financial Protection Law
On 21 December 2022, the Department of Financial Protection and Innovation (DFPI) published a cease-and-desist ruling concerning CONST LLC. The DFPI ordered the company to cease offering crypto-related products and desist from violating California S…
Event type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body