Case summary
On March 18, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Consent Order (S-21-3212-23-CO01) against Celsius Network Inc. ,Celsius Network Limited, Celsius US Holding LLC , Celsius Network LLC , Celsius Networks Lending LLC, Celsius Lending LLC.
Order details
Order File: S-21-3212-23-CO01
Laws & Rules: RCW 21.20.140, RCW 21.20.010
Penalties/Remedies:
- Fine and costs suspended as long as Respondents comply with the plan of reorganization in their bankruptcy case, and the plan is fully administered
- Cease and desist
Findings
- Respondents offered and sold unregistered securities in the form of Celsius Earn Program Accounts, which are cryptocurrency accounts that earn interest.
- In offering and selling these securities, Respondents failed to disclose the risks of the investment, including that the accounts were not protected by insurance for depository or brokerage accounts (for example, FDIC insurance).
This resolves a previous Statement of Charges.