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Celsius announces only transfers from accredited US-based investors will be able to earn rewards

Published 04/12/2022, 03:15 PM
Updated 04/12/2022, 05:00 PM
Celsius announces only transfers from accredited US-based investors will be able to earn rewards

Crypto lending firm Celsius Network has announced it will be launching a custody solution for users based in the United States in response to discussions with local regulators.

In a Monday announcement, Celsius said its ​​Earn product, which allows users to earn interest on crypto, would be unavailable to U.S. residents making transfers starting on Friday. According to the firm, any coins transferred to interest-earning accounts before Friday “will continue to earn rewards,” but “new transfers made by non-accredited investors in the United States” will be held in custody accounts.

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