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- New Jersey is adding on by issuing a cease-and-desist order, just days after Texas securities authorities issued crypto lender Celsius with an order to appear in court on Friday
- In July, New Jersey and Texas were among the states that imposed similar sanctions against crypto lender BlockFi
- In July, New Jersey and Texas were among the states that imposed similar sanctions against crypto lender BlockFi
The BlockFi strategy is in full swing. New Jersey is adding on by issuing a cease-and-desist order, just days after Texas securities authorities issued crypto lender Celsius with an order to appear in court on Friday. If one sells securities in New Jersey, you must follow the state’s securities regulations. Acting Attorney General Andrew Bruck of New Jersey tweeted, And that includes anyone engaging in the bitcoin industry. Their Securities and Exchange Commission has ordered Celsius, a business located in New Jersey, to stop selling interest-bearing accounts. In July, New Jersey and Texas were among the states that imposed similar sanctions against crypto lender BlockFi.
In July, New Jersey and Texas were among the states that imposed similar sanctions against crypto lender BlockFi. BlockFi CEO Zac Prince stated earlier this week that crypto lenders require federal clarification on the status of accounts that pay interest on bitcoin deposits. The piecemeal attempts of state authorities irritated Prince. They are not going to put crypto lending in the same box as New Jersey, Texas, or any other state, Prince said at the SALT conference in New York on Monday. Celsius did not respond to a request for comment on the New Jersey injunction before press time. The corporation has yet to respond to the previous requests about the Texas case.
He is not attempting to close the firm or put it out of business. Instead, he sees digital assets and blockchain technology as leading the way for new financial services and intriguing new prospects. They are just attempting to bring Celsius into conformity with the law so that it may continue to operate lawfully and properly while safeguarding its clients’ assets. Celsius did not respond to a request for comment by press time. The lawsuit against Celsius follows a similar injunction against crypto lender BlockFi issued by Texas and other jurisdictions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
