California's Department of Financial Protection and Innovation said Wednesday it was moving to suspend Salt’s license for 30 days as the regulator investigates the crypto lender’s decision this week to pause client withdrawals.
On Tuesday, Salt announced it was pausing client withdrawals and deposits due to the impact of the collapse of crypto exchange FTX.due to the latter’s FTX exposure.last week for also halting withdrawals due to FTX’s collapse. The department said it is also separately investing FTX.
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