Former Celsius CEO Accused Of Breaking U.S. Laws
Prominent crypto lender Celsius failed its users in 2022. Now, it is facing heat from the Commodity Futures Trading Commission [ CFTC ] yet again. At press time, Celsius and its former CEO Alex Mashinsky have been accused of breaking several U.S. laws. This was prior to the firm’s collapse. According to a Bloomberg report, the CFTC has determined that Celsius engaged in misleading practices toward investors. Furthermore, the report noted that Celsius intentionally chose not to register with the regulatory authority as required. Additionally, Mashinsky has been charged with violation of several regulations. If a majority of the agency’s commissioners concur with the conclusion, the CFTC may initiate legal proceedings in federal court. This could be done as early as this month. Also Read: Celsius : ‘Eligible Users’ Are Now Allowed To Withdraw Funds CFTC joins SEC and New York Attorney General in taking down Celsius On June 16, 2022, securities regulators fro...