Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
The recovery of Celsius, one of the most prominent crypto companies in the industry, may have hit a major roadblock as the US Securities and Exchange Commission (SEC) continues to challenge the company with numerous requests.
According to a Bloomberg report, the SEC has asked Celsius to explain how it meets certain thresholds for registering as a security broker as well as seeking to know if investors in Celsius products meet the criteria for being accredited investors.
The SEC has also asked Celsius to explain how its recent $20 million raise was conducted, with concern that it may have violated securities laws due to the way it was conducted.
The SEC’s queries have reportedly caused Celsius to stall efforts to become publicly listed, which the company had been working on as part of its goal of becoming an “Amazon-like” crypto venture.
Celsius has until October 11th to respond to the questions posed by the SEC. If Celsius is ultimately found to have indeed violated securities laws, it could face significant fines and other penalties.