{"id":49697,"date":"2021-09-17T18:54:54","date_gmt":"2021-09-17T15:54:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49697"},"modified":"2025-09-02T13:57:50","modified_gmt":"2025-09-02T10:57:50","slug":"texas-and-new-jersey-regulators-accuse-celsius-network-of-selling-unregistered-securities","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/texas-and-new-jersey-regulators-accuse-celsius-network-of-selling-unregistered-securities\/","title":{"rendered":"Texas and New Jersey regulators accuse Celsius Network of selling unregistered securities"},"content":{"rendered":"<p>The Texas State Securities Board (TSSB) has accused the Celsius Network, a crypto-lending service, of selling unregistered securities. The accusation is contained in the <a href=\\\"https:\/\/www.ssb.texas.gov\/sites\/default\/files\/2021-09\/20210917_FINAL_Celsius_NOH_js_signed.pdf\\\">document<\/a>.<\/p>\n<p>The TSSB has required the service&#8217;s representatives to appear at a videoconference hearing on February 14, 2022. On that day, a decision will be taken on whether Celsius Network will cease operations.<\/p>\n<p>Texas State Securities Board chairman Joseph Rotonda, in comments to CoinDesk, confirmed that the allegations relate to the sale of securities \\&#8221;without prior compliance with important investor-protection laws.\\&#8221;<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abI recognise that digital assets and blockchain technology open the path to exciting new opportunities and new financial services. We are simply trying to bring Celsius&#8217;s activities into compliance with the law so that it can continue to operate legally,\u00bb said the head of the Texas State Securities Board.<\/p>\n<\/blockquote>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">September 17, 2021 | 21:40<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span><\/p>\n<p>The New Jersey financial regulator has ordered Celsius Network to stop selling unregistered securities within the state.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">If you sell securities in NJ, you need to comply with NJ\u2019s securities laws. And that includes those operating in the cryptocurrency market.<\/p>\n<p>Our Bureau of Securities has ordered an NJ-based company \u2013 Celsius \u2013 to stop offering interest-bearing accounts.<a href=\\\"https:\/\/t.co\/CqmJXCkMM2\\\">https:\/\/t.co\/CqmJXCkMM2<\/a><\/p>\n<p>\u2014 Acting AG Andrew Bruck (@NewJerseyOAG) <a href=\\\"https:\/\/twitter.com\/NewJerseyOAG\/status\/1438915307058384899?ref_src=twsrc%5Etfw\\\">September 17, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abIf you sell securities in New Jersey, you need to comply with the state&#8217;s securities laws. And this requirement applies to those operating in the cryptocurrency market,\u00bb wrote Acting Attorney General of New Jersey Andrew Bruck.<\/p>\n<\/blockquote>\n<\/div>\n<p>Earlier, the state regulator brought similar charges against the crypto-lending platform BlockFi. The BlockFi Interest Account (BIA) offering is also being reviewed by financial regulators <a href=\"https:\/\/u1f987.com\/en\/news\/vermont-regulators-launch-probe-into-blockfis-activities\">Vermont<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/regulator-bars-blockfi-from-opening-new-accounts-for-new-jersey-residents\">New Jersey<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/alabama-regulator-accuses-blockfi-of-selling-unregistered-securities\">Alabama<\/a>.<\/p>\n<p>Earlier, BlockFi chief executive Zac Prince said he was confident that <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-chief-says-crypto-lending-will-survive-regulatory-pressure\">crypto-lending services would survive<\/a> despite state-level regulatory pressure.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Texas State Securities Board (TSSB) has accused Celsius Network, a crypto-lending service, of selling unregistered securities. The document outlines the allegations.<\/p>\n","protected":false},"author":1,"featured_media":49698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,36,26],"class_list":["post-49697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49697"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49697\/revisions"}],"predecessor-version":[{"id":49699,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49697\/revisions\/49699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49698"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}