Some States Have Decided to Cease Trading for Celsius

Some states in the USA have decided to cease trading for Celsius. The states of Texas, New Jersey and Alabama said the law was violated.

In the US, Texas, New Jersey and Alabama state officials have revealed that crypto lending and lending platform Celsius Network is violating the law through its "Win A Prize" program. New Jersey asks Celsius to immediately cease its interest-account operations, while Texas will hold a meeting in February to determine if this is necessary. Alabama, on the other hand, is requesting a defense from Celsius in four weeks. Sanctions will be imposed if the company does not respond. In a statement made by Celsius, stating that the company denied allegations that it was not complying with the law, it was stated that "We have always worked and will continue to work with regulators in the US and around the world to fully comply with the law. Given our commitment to the law, we look forward to addressing this issue quickly. As of now, there are no changes in our services that affect our customers. We will make an announcement as soon as it develops." On the other hand, Alex Mashinsky, CEO of Celsius, said: "They should support us as we effectively help redistribute wealth and provide opportunity for everyone, not just the 1%."