SEC Raises Concerns Over Coinbase in Objection to Celsius Restructuring Plan

The United States Securities and Exchange Commission (SEC) has submitted an objection to Celsius Network’s reorganization plan, partly due to its ongoing legal action against cryptocurrency exchange Coinbase.

On September 22, the SEC filed a limited objection and reservation of rights with the U.S. Bankruptcy Court for the Southern District of New York concerning Celsius’ latest restructuring proposal. This fourth revision of the bankruptcy plan was submitted on August 15, following an initial proposal made in March, but it has yet to receive approval.