Celsius Halting Problem, Under Investigation by Securities Authorities in Five US States | Reuters

Joseph Rotanda, executive officer of Texas Securities Regulatory Authority, told Reuters on June 16 that Cercius, a cryptocurrency deposit and lending service, has stopped withdrawing funds from all of its clients’ accounts. The state and five state authorities, Alabama, Kentucky, New Jersey and Washington, have begun investigations. Taken on the 13th (2022 Reuters / Dado Ruvic / Illustration)

[Washington, 16th Reuters]— Joseph Rotanda, executive officer of Texas Securities Regulatory Authority, on the issue that US Celsius, a cryptocurrency deposit and lending service, has stopped withdrawing funds from all clients’ accounts. Tell Reuters on the 16th that the state and five state authorities in Alabama, Kentucky, New Jersey and Washington are launching an investigation.

According to Rotunda, officials first discussed the matter on the morning of the 13th and launched an investigation. He said the survey was considered a top priority.

Celsius announced that it will stop withdrawals from accounts and remittances between accounts due to the extreme market environment. He argues that this is a measure to make it easier to meet withdrawal obligations in the long run.

But Rotunda said, “There is a great deal of concern that clients, including the majority of private investors, may need immediate access to their assets but still cannot withdraw from their accounts. Not having access to their investment funds means that they have no access to their investment funds. It could lead to a serious financial situation. “

Joseph Borg, director of the Alabama Securities Commission, also acknowledged the investigation. The investigation has just begun, saying Celsius has been trying to respond to authorities’ inquiries so far. The US Securities and Exchange Commission (SEC) has also contacted Celsius, he said.

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Celsius and the company’s CEO, Machine Ski, did not respond to the request for comment.

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