Celsius suspends interest payments to US customers

The centralized crypto-lending platform Celsius announced that it would suspend interest accrual on the Earn product for new US users.

Important Celsius Update for our Users in the United Stateshttps://t.co/pzU9MERJEZ

— Celsius (@CelsiusNetwork) April 12, 2022

Starting April 15, the Custody solution will become operational, into which deposits from new users will be directed. Interest on these funds will not accrue.

The changes do not affect assets of US users deposited before April 15.

“These coins will continue to yield rewards as long as they remain on Earn accounts,” Celsius representatives clarified.

For residents of other countries, the terms remain unchanged.

Earlier, similar moves were made by Celsius competitors — Nexo and BlockFi.

In January 2022, media reported about an SEC investigation into lending-service providers Voyager, Gemini and Celsius Network. Regulators allegedly are checking the legality of them offering interest on deposits in digital assets.

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