America’s securities regulator has been urged to decide if it will approve a plan to transform Celsius Network into a bitcoin mining firm. The proposal seeks to repay customers of the bankrupt cryptocurrency lender with both crypto assets and stock in a new publicly traded mining entity.
New York Judge Hopes for Expedited SEC Decision on Celsius’ Repayment Proposal
Judge Martin Glenn, who oversees the bankruptcy of Celsius, has called on the U.S. Securities and Exchange Commission (SEC) to quickly decide whether it will authorize the company to transform itself into a crypto mining firm, Bloomberg reported.
During a court hearing on Monday, Glenn told a lawyer representing the regulator that he hopes the SEC will expedite the decision-making process because Celsius and its creditors have quickly moved through Chapter 11. The judge was quoted as stating:
The SEC will make whatever decision it believes is the correct one. I just hope the process will move forward, so if there are any
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