WASHINGTON :State securities regulators in Alabama, Kentucky, New Jersey, Texas and Washington are investigating crypto lender Celsius Network's decision this week to suspend customer redemptions, Texas' director of enforcement Joseph Rotunda told Reuters on Thursday.
Celsius said that due to extreme market conditions, it was pausing withdrawals, swaps and transfers between accounts. The company said that doing so would put it"in a better position to honor, over time, its withdrawal obligations." Alabama Securities Commission Director Joseph Borg told Reuters that Celsius has been responsive to questions from the regulators, but that the investigation is in the initial stages.
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