Celsius Network is fighting the perception that regulators have clamped down on its operations.
The crypto lender released a statement this week saying “Celsius is here to say” and “working closely with regulators.” Celsius also clarifies that he has not received cease and desist orders from New York state authorities.
Earlier this week, New York Attorney General Letitia James ordered the shutdown of two crypto companies and requested that three more answers immediately answer questions. None of the five crypto companies in question have been officially named.
The London-based Celsius Network acknowledges that the company has received a “request for information” from New York authorities.
âCelsius has received several requests from regulators who want to better understand what we do, how we do it and how we comply with regulatory requirements. We have a very open and productive dialogue with regulators around the world. “
In September, Texas, New Jersey and Kentucky all took legal action against Celsius Network. New Jersey and Kentucky have issued cease-and-desist orders, with New Jersey claiming the company has illegally sold “interest-generating cryptocurrency products.”
Texas has filed a notice for a hearing next year to determine whether it should also issue a cease and desist order against Celsius for illegally selling “interest-bearing cryptocurrency accounts.” “.
Celsius Network’s native CEL token is trading at $ 5.25 at the time of writing and is down more than 7% on the week, according to CoinGecko.
Don’t Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox
follow us on Twitter, Facebook and Telegram
Surf the daily Hodl Mix
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
Featured Image: Shutterstock / agsandrew