Celsius suspends interest payments to US customers
- April 12, 2022
- 0
Centralized crypto lending platform Celsius has announced the suspension of interest accrual on Earn product to new users from the US. Important Celsius Update for Our Users in
Centralized crypto lending platform Celsius has announced the suspension of interest accrual on Earn product to new users from the US.
Important Celsius Update for Our Users in the United Stateshttps://t.co/pzU9MERJEZ
— Celsius (@CelsiusNetwork) April 12, 2022
On April 15, the Retention solution will start working, where deposits from new users will be sent. No interest will accrue on these funds.
The changes will not affect US user assets deposited before April 15.
“These coins will continue to earn rewards as long as they stay in their Earnings account,” Celsius said.
For residents of other countries, the conditions remain the same.
Celsius rivals Nexo and BlockFi have made similar decisions before.
In January 2022, media reported an SEC investigation into landing service providers Voyager, Gemini and Celsius Network. The regulator allegedly controls the legality of providing interest on deposits in digital assets.
Source: Fork Log
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