The post SEC Opposes Celsius Plan for Coinbase in Bankruptcy Restructuring! appeared first on Coinpedia Fintech News
The Securities and Exchange Commission has voiced its opposition to crypto firm Celsius Network’s proposal to distribute digital assets to customers through Coinbase as part of its reorganization plan. The firm filed for bankruptcy more than a year ago and plans to seek bankruptcy court approval for its restructuring plan in the coming weeks. The SEC filed court papers alleging that Coinbase’s involvement in the proposed plan of reorganization, which includes brokerage and master trading services, could prompt litigation as the regulator’s lawsuit against Coinbase is still ongoing.