SEC Scrutinizing Crypto Firms Over Interest Paying Services: Report

Posted on by American Coins & Gold

SEC Scrutinizing Crypto Firms Over Interest Paying Services: Report
The Securities and Exchange Commission (SEC) is probing crypto exchanges Voyager Digital and Gemini Trust and crypto lender Celsius Network as part of a wider investigation into crypto companies’ interest paying services, Bloomberg reported Wednesday, citing unnamed sources. The agency is considering whether these firms should file their offerings as securities with the SEC, Bloomberg reported, but the agency is not accusing any of the firms of wrongdoing at this time.These companies can pay higher interest rates on these assets than most banks do on savings accounts by lending their tokens to other investors. Several states, including Kentucky, New Jersey,…