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California Finance Regulator Moves to Suspend Crypto Lender Salt’s License

California's Department of Financial Protection and Innovation (DFPI) 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.

Also on Tuesday, online investing platform Bnk To The Future said it had terminated its previously announced non-binding letter of intent to acquire Salt due to the latter’s FTX exposure.

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