The US state of Vermont has become the sixth state to participate in a multi-state investigation into cryptocurrency lending and staking platform Celsius Network.
Vermont State Department of Financial Regulations (DFR), Tuesday, July 12 in a statement on the day Celsius’issuing a warning against to a multi-state investigation announced his participation.
in the statement Celsius‘Fame “in bankruptcy” sufficient to meet its obligations to customers and other creditors. “to assets and liquidity” stating that he does not have DFRaccused of mismanaging clients’ funds by investing them in risky and illiquid investments.
In addition to the usual risks of investing in cryptocurrencies, Celsius interest account holders also faced a credit risk that they would not be able to get their tokens back after Celsius stopped withdrawing and depositing funds.
Celsius operates without any regulatory oversight and is a firm to provide any investment services in the state. do not have a money transfer service license The regulatory body also that he participated in a multi-state investigation against Celsius. told.
The department believes Celsius is offering an unregistered security by offering crypto-interest accounts to individual investors. Celsius also does not have a money transfer service license. The ministry participated in a multi-state Celsius investigation that stemmed from the above concerns.
Vermont thus Alabama, Kentucky, New Jersey, Texas and Washington after the states to a multi-state investigation against Celsius in the US. participating sixth state it happened.
In June, citing market conditions, transfer, swap and withdraw money transactions temporarily stopped Celsius, who explained and is known to have had financial difficulties since then, 90 million dollars debt-based decentralized finance (DeFi) platform Aave’ye owe yesterday $81.6 million given as collateral by paying the 410 million dollarsness stETHtook it back.