Celsius Gets Court Clearance For Crypto Payback To Creditors

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Beleaguered crypto lending platform Celsius, which filed for bankruptcy in July 2022, received the green light to begin liquidating its cryptocurrency holdings in preparation for distribution to its creditors. The authorization was granted by Bankruptcy Judge Martin Glenn of the Southern District of New York. This development came about following Celsius’s proposal, which came out of consultations with the U.S. Securities and Exchange Commission (SEC). The SEC has recently opined that many lesser-known cryptocurrencies should be categorized as securities and, as such, should be subjected to re…

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