The SEC filed a limited objection over Celsius’ restructuring plan, claiming Coinbase could “go far beyond the services of a distribution agent” in its role.
A supplement to the reorganization plan proposed a distribution services agreement with Coinbase which Celsius sought to file under seal.
Revisions to the Celsius restructuring plan have been ongoing since March, while Coinbase faces an SEC lawsuit over allegedly offering unregistered securities. In a Sept. 25 X, Coinbase CEO Brian Armstrong and chief legal officer Paul GrewalCoinbase is proud to engage with Celsius to distribute crypto back to its customers.
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