2 years ago
The Securities and Exchange Commission (SEC) is probing crypto exchanges Voyager Digital and Gemini Trust and crypto lender Celsius Network arsenic portion of a wider probe into crypto companies' involvement paying services, Bloomberg reported Wednesday, citing unnamed sources.
The bureau is considering whether these firms should record their offerings arsenic securities with the SEC, Bloomberg reported, but the bureau is not accusing immoderate of the firms of wrongdoing astatine this time.
These companies tin wage higher involvement rates connected these assets than astir banks bash connected savings accounts by lending their tokens to different investors.
Several states, including Kentucky, New Jersey, Alabama and Texas person separately noted their unease with this practice.
Gemini, Celsius and Voyager said that they were cooperating with the the SEC probe, Bloomberg reported.
Last September, the Securities and Exchange Commission (SEC) threatened to writer crypto speech Coinbase implicit a projected lending program.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
James Rubin is CoinDesk's U.S. quality exertion based connected the West Coast.
Subscribe to State of Crypto, our play newsletter connected argumentation impact.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 