Texas, Vermont regulators object to Celsius stablecoin sale plan
A key concern is that the firm hasn’t explicitly outlined what it will do with the stablecoin sale proceeds.
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Vermont's financial regulator alleges Celsius and its CEO made 'false and misleading claims'
According to the regulator, Celsius “lacked sufficient assets to repay its obligations” despite suggesting it had enough funds in its reserves to mitigate the risk of insolvency.
Vermont becomes the sixth US state to launch investigation against Celsius
The state financial regulator alleged that Celsius violated state security laws by offering high crypto interest rate accounts to customers and unethically using clients’ funds to invest in illiquid products.