There is a post on Reddit blowing up and I’m

Question

There is a post on Reddit blowing up and I’m

curious what people would say in here.

Celsius has never offered integral services that they know aren’t allowed and gone against regulators. Why were loans available in most states before, but now not available in states that never were issued cease and desist orders like Ohio?

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01.05.2022

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Kristian · Accepted Answer

The regulatory space is evolving rapidly for the crypto industry. New regulations, and equally important, clarification of old regulations, will regularly and rapidly change what is considered to be reasonably within the law. Celsius might have been doing things that weren’t forbidden before, but these things were only okay to do because there didn’t exist any regulations targeting what they were doing and nobody seemed to care. There wasn’t anything saying explicitly that they were allowed to do it. Now that regulators have shifted focus to the crypto industry it is important for Celsius to show that they are making an effort to stay within the regulations by themselves, not just waiting for a cease and desist letter.

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