The United States Securities and Exchange Commission has filed an objection to Celsius Network’s reorganization plan based in part on the regulator’s own ongoing lawsuit with crypto exchange Coinbase (NASDAQ:COIN).
On Sept. 22, the SEC filed a limited objection and reservation of rights with the U.S. Bankruptcy Court for the Southern District of New York over Celsius’ most recently proposed restructuring plan. The fourth revision of the bankruptcy plan, filed on Aug. 15, followed an initial proposal in March but has not been approved.