Celcius Network crypto rewards, according to a warning from his company to his customers altcoin CEL It is vulnerable to “regulation risks”.
“There Are Regulatory Risks For The CEL altcoin”
The crypto lending company has been increasingly stricting the language it uses in its “risk statements” it has published in recent days.
Making a statement for the high-yielding Celsius Earn Program, the company stated that “this program can be considered a risky investment” and that there are regulatory risks for the CEL token.
Celsius Network said the following about the altcoin in its statement:
“Like any other digital asset, the CEL token is susceptible to a number of risks. These risks include coin thieves, lost keys, irreversible crypto transactions, failed chains.”
In its latest statement, the company added “regulation risks” to the existing risks for the CEL token.
Last week, the company restricted US registrations to accredited investors for its “Earn” program. In a statement made a short time ago, the company said the following on the subject:
“We are continuing discussions with US controllers regarding our Earn product. As a result, there will be some changes to the way our Earn works for users located within the US.”
US Officials Accuse Celsius Network of Selling Unregistered Securities
Last September, US officials required Celsius to prove that the Earn program was not an unregistered security. However, federal regulators are said to be scrutinizing the Celsius company.
Last year, crypto lending companies faced a new wave of regulatory scrutiny in the US. Celsius currently offers an annual return of 18%. Regulators want to have more control over how companies make such high payments.
*Not investment advice.