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New Jersey And Texas Call Celsius' Interest-Bearing Accounts As Unregistered Securities
Summary: The Acting Attorney General of the State of New Jersey, Andrew Bruck, announced that the NJ Securities Bureau has ordered Celsius, headquartered in Hoboken, New Jersey, to stop providing interest-bearing accounts. The regulator said that Celsius has funded its cryptocurrency lending business and proprietary trading at least in part by selling unregistered securities in violation of ...
The Acting Attorney General of the State of New Jersey, Andrew Bruck, announced that the NJ Securities Bureau has ordered Celsius, headquartered in Hoboken, New Jersey, to stop providing interest-bearing accounts.
The regulator said that Celsius has funded its cryptocurrency lending business and proprietary trading at least in part by selling unregistered securities in violation of the New Jersey Securities Law. These illegal sales have raised at least $14 billion for Celsius.
Earlier on Friday, the US state of Texas accused the crypto lending platform Celsius of providing residents with unregistered securities. The state filed a notice seeking a hearing to determine whether to issue a suspension order against the company.
New Jersey and Texas previously took similar actions in July to crack down on BlockFi, a cryptocurrency lender.
By Mary Liu
Tags: Celsius,Regulation,securities
Link: New Jersey And Texas Call Celsius' Interest-Bearing Accounts As Unregistered Securities [Copy]
