LONDON--(BUSINESS WIRE)--Celsius Network (https://celsius.network/), announces today US-based users will enjoy renewed access to CEL utilities. This announcement comes after a brief pause in access as Celsius chose to do a full review of its token with outside counsel. This action was taken by the company voluntarily and in the best interest of the Celsius community. It was not in response to any actions or demands from any US or international regulator.
“We are happy to be able to provide our loyal US customers access to CEL utilities once again,” stated Jeremie Beaudry, Chief Compliance Officer and General Counsel at Celsius Network, “We appreciate their patience as we opted to take the time to fully investigate our token and ensure we continue to do everything to make our product as compliant as possible.”
Celsius Network recently announced its one year results since product launch, placing it as the largest provider of interest income and coin loans in over 150 global jurisdictions. Since its launch, Celsius Network has required all users to complete KYC approvals before providing access to any of its services. This strict adherence to the industry's best compliance practices protects the community and provides services in the best interest of that fast-growing community.
The legal review was conducted by three different outside law firms that examined existing, new, and pending regulations to ensure Celsius Network stays compliant under all scenarios. As part of the review Celsius has updated its terms of use and provided tighter descriptions of where and how its services are provided.
About Celsius Network
Celsius Network addresses the financial needs of today’s consumers worldwide through a high interest income and low cost dollar borrow accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 4.95% APR or earn up to 10% on stable coins and other crypto coins.
For additional information please visit www.celsius.network.
