Canadian regulators are working in tandem with their U.S. counterparts to investigate the impact of New Jersey-based crypto lender Celsius Network’s multibillion-dollar collapse, according to a Financial Post article.
Although Celsius never registered with Canada’s provincial securities regulators, authorities in the country are working with the U.S. Securities and Exchange Commission to investigate the trans-border issue, the Financial Post, a Toronto-based newspaper, reported Tuesday. Regulators have launched investigations across jurisdictions in the U.S. and Canada to look into the insolvent lender’s post-crash actions.
The Ontario Securities Commission (OSC) is also investigating how Celsius' collapse and subsequent bankruptcy has affected the platform’s Canadian users. In Quebec, the Autorité des Marchés Financiers (AMF) is investigating the ramifications of Celsius’ mid-June effort to freeze withdrawals.
Celsius Network, a crypto lending platform that once held $28 billion in...
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