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<div class="cryptonews">
 <p class="is-style-lead">The U.S. Securities and Exchange Commission’s request for more information has paused Fahrenheit’s plan to revive bankrupt crypto lender Celsius, highlighting the ongoing regulatory challenges in the crypto sector.</p>
 <p>Fahrenheit, an investment group, had a plan to create a new crypto business from what’s left of bankrupt crypto lender Celsius, however, the U.S. Securities and Exchange Commission (SEC) is now asking for more details, causing a delay.</p>
 <p>Fahrenheit, which includes groups like Arrington Capital, U.S. Bitcoin Corp. and Proof Group, won a competition to rebuild Celsius. The company got the go-ahead from a bankruptcy court, but now the restructure has become inert due to SEC’s questioning.</p>
 <p>The SEC has requested more information on Celsius’s assets, thus slowing down the process.</p>
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 <p>Fahrenheit’s initial plan was to disperse around $2 billion in Bitcoin (BTC) and Ethereum (ETH) to the individuals Celsius owed money to, and also share in a new company. This new company would assist with running Celsius’s Bitcoin mining, investing in Ethereum, selling off underperforming assets and starting new projects.</p>
 <p>For now, the initiative is paused due to further SEC information gathering. If Fahrenheit can’t move forward, the contingency plan is to sell off Celsius’s assets.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Coffeezilla rips Celsius Network scandal wide open
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/celsius-restructuring-encounters-obstacle-due-to-sec-involvement-tbt70989.html">https://thebittimes.com/celsius-restructuring-encounters-obstacle-due-to-sec-involvement-tbt70989.html</a></p>

Celsius restructuring encounters obstacle due to SEC involvement

TheBitTimes

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