BlockFi, a cryptocurrency lending and borrowing platform, has filed a motion in a New York court to return frozen cryptocurrency to its wallet users.
The motion comes after the New York Attorney General’s office obtained a court order to freeze the assets of BlockFi and its CEO, Zac Prince, as part of an ongoing investigation into potential violations of state banking laws.
According to the motion, the frozen assets belong to BlockFi’s customers and have no connection to the company or its CEO.
The company argues that the continued freezing of these assets is causing hardship for its customers, who are unable to access their cryptocurrency and are unable to conduct transactions with it.
In its motion, BlockFi has requested that the court allow it to return the frozen assets to their rightful owners, the wallet users. The company has also requested that it be allowed to continue operating while the investigation is ongoing, as long as it follows certain conditions set by the court.
It remains to be seen whether the court will grant BlockFi’s request and allow the company to return the frozen assets to its customers.
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