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The centralized crypto lending platform Celsius announced the suspension of interest accrual on the Earn product to new users from the United States.
Important Celsius Update for our Users in the United Stateshttps://t.co/pzU9MERJEZ
– Celsius (@CelsiusNetwork) April 12, 2022
On April 15, the Custody solution will start working, where deposits from new users will be sent. Interest on these funds will not accrue.
The changes will not affect U.S. user assets deposited before April 15th.
“These coins will continue to earn rewards as long as they remain in Earn accounts,” Celsius said.
For residents of other countries, the conditions remain the same.
Previously, Celsius competitors Nexo and BlockFi made similar decisions.
In January 2022, the media reported on an SEC investigation into landing service providers Voyager, Gemini and Celsius Network. The regulator allegedly checks the legality of their provision of interest on deposits in digital assets.
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