Share this article
New Jersey Piles On: Crypto Lender Celsius Hit With 2 Securities Actions in 1 Day
The Garden State is joining Texas in taking Celsius to task.
By Zack Seward
Updated May 11, 2023, 6:37 p.m. Published Sep 17, 2021, 8:21 p.m.
Make us preferred on Google
The BlockFi playbook is in full effect.
Shortly after Texas securities regulators issued crypto lender Celsius with an order to appear in court on Friday, New Jersey is piling on by filing a cease-and-desist order.
STORY CONTINUES BELOW
“If you sell securities in NJ, you need to comply with NJ’s securities laws. And that includes those operating in the cryptocurrency market,” tweeted New Jersey Acting Attorney General Andrew Bruck. “Our Bureau of Securities has ordered an NJ-based company – Celsius – to stop offering interest-bearing accounts.”
New Jersey and Texas were also among the states to slap crypto lender BlockFi with similar actions in July.
Read more: BlockFi Is Pursuing Plans to Go Public – Even as Regulators Close In
Earlier this week, BlockFi CEO Zac Prince said crypto lenders need federal guidance on the status of accounts that provide interest on crypto deposits. Prince took offense at the piecemeal efforts by state regulators.
“We’re not going to decide what box crypto lending belongs in based on what New Jersey does or what Texas does or what any one other state does,” Prince said at the SALT conference in New York on Monday.
A request for comment sent to Celsius on the New Jersey order was not returned by press time. The company has still not replied to CoinDesk’s earlier inquiry on the Texas matter.
UPDATE (Sept. 17, 17:50 UTC): Clarifies that New Jersey has filed a summary cease-and-desist order.
UPDATE (Sept. 18, 3:23 UTC):Alabama has also taken action against Celsius.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
What to know:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
Top Stories
