States Flag Celsius' Interest-Earning Crypto Accounts

By Elise Hansen (September 17, 2021, 7:11 PM EDT) -- Digital-asset company Celsius was hit with a pair of state regulatory actions on Friday, as New Jersey's securities regulator ordered the company to stop offering interest-earning cryptocurrency products and Texas authorities demanded further information about the products.

The New Jersey Bureau of Securities issued a cease and desist order against Celsius Network LLC, saying it has raised at least $14 billion by selling unregistered securities in the form of interest-earning crypto-asset accounts. The Texas State Securities Board called Celsius in for a February hearing in which the regulator says it will seek an order requiring Celsius to stop violating state securities...

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