State securities regulators investigate Celsius over withdrawal suspension: R...
Reports from different media outlets in the last week also suggested the Celsius Network has lost major backers and onboarded new attorneys amid a volatile crypto market. Securities regulators from five U.S. states have reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals.According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda said regulators in Alabama, Kentucky, New Jersey, Texas and Washington began investigating Celsius after the platform announced....
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The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals.
U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze
The U.S. SEC and securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are investigating the decision by crypto lender Celsius Network to freeze withdrawals, Reuters reported Thursday.
Texas’ director of enforcement Joseph Rotunda explained that officials representing the five state....
American platform became the first one to freeze the withdrawal operations, but might not be the last Last week, the Celsius Network wrote its name in the alarming recent history of the crypto market failures alongside Terra. The American platform has unstaked $247 million worth of Wrapped Bitcoin (wBTC) from the Aave protocol and sent it to crypto exchange FTX while putting the withdrawal option for users on a stop. Immediately after that, United States securities regulators from five states — Alabama, Kentucky, New Jersey, Texas and Washington — opened an investigation into Celsius. This....
Earlier this year, crypto lending platform BlockFi started facing the heat from state regulators in New Jersey, Texas, and Alabama. Other states have joined the fold since then, as well. Celsius this week is now facing similar cease and desist demands from all three of the same states that BlockFi first faced. Let’s take a look at what we know thus far, and what it could potentially mean for DeFi moving forward. Regulators Reach: What Celsius Is Facing It’s becoming quickly apparent that Celsius is joining the fight in facing regulators in the same vein that BlockFi has. On....
A news release published by the New Jersey government web portal indicates that the cryptocurrency lending platform Celsius has been sent a cease and desist order from the New Jersey Bureau of Securities. Furthermore, the Texas State Securities Board has ordered Celsius to appear at a hearing and is also threatening with a cease and desist. Regulators are not taking too kindly to platforms that offer high-yield interest rates on various cryptocurrencies. New Jersey Regulators Send Cease & Desist to Celsius Over ‘Earn Rewards Accounts’ U.S. regulators from the Securities and....
The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange FTX Several U.S. authorities are reportedly probing FTX, the embattled cryptocurrency exchange founded by Sam Bankman-Fried. The U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are....