Celcius to face simultaneous lawsuits

Celcius, a cryptocurrency lender,  is hit with back-to-back legal issues. States like New Jersey are planning to slap a new securities lawsuit after Texas has done the same. New Jersey has sent a cease-and-desist order to the company.

According to regulators, companies need to follow the rules and regulations set forward by them. Another crypto lender BlockFi faced a similar fate in July.

The company’s CEO Zac Prince, said that the company needs guidance and assistance from regulators, regarding interest rates, and other terminologies. But unfortunately, companies are not getting that much assistance, he further added.

Celsius did not have anything to comment on the matter, at the time of writing.