June 30 (Cointime) - Crypto lender Celsius has been granted permission to liquidate its altcoins as it prepares to distribute funds to creditors solely in bitcoin and ether. The move was approved by Bankruptcy Judge Martin Glenn of the Southern District of New York after discussions with the Securities and Exchange Commission (SEC).
Celsius has been in regular dialogue with the SEC to ensure compliance with federal and state laws and regulations. The company is preparing an updated bankruptcy plan that will not involve distributions of cryptocurrencies to creditors other than bitcoin or ether.
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