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Kentucky Ordered Celsius to Cease from Offering Its Interest Paying Accounts in the State
Summary: Kentucky’s securities regulator on Thursday ordered giant crypto lender Celsius Network to cease and desist from offering its interest paying accounts in the state, joining three other states that last week took similar actions. In the emergency order, the Kentucky Department of Financial Institutions said Celsius offered customers unregistered securities in violation of state law ...
Kentucky’s securities regulator on Thursday ordered giant crypto lender Celsius Network to cease and desist from offering its interest paying accounts in the state, joining three other states that last week took similar actions.
In the emergency order, the Kentucky Department of Financial Institutions said Celsius offered customers unregistered securities in violation of state law and didn’t sufficiently disclose to customers what the firm did with their deposits, calling the accounts “an unregulated market that represents an unprecedented risk to consumers.”
By Amy Liu
Tags: Celsius Network,Crypto,Kentucky
Link: Kentucky Ordered Celsius to Cease from Offering Its Interest Paying Accounts in the State [Copy]
