Kentucky Becomes 4th US State to Act Against Crypto Lender Celsius — CoinDesk

Kentucky Becomes 4th US State to Act Against Crypto Lender Celsius — CoinDesk

The regulator takes issue with the startup’s language regarding interest earned on certain crypto accounts that Celsius dubs “rewards” or a “financing fee.” The regulator is alleging Celsius’ interest-bearing accounts violate state securities law and fail to disclose to customers what occurs with their deposits, nor are the customers protected under state securities protections.

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