FTC said the fine imposed on Celsius Network would be "suspended to permit Celsius to return its remaining assets to consumers in bankruptcy proceedings."
Bankruptcy filings in the digital asset space continue, as cryptocurrency exchange Bittrex filed for bankruptcy protection in the U.S. Bankruptcy Court for the District.
New York Department of Financial Services issued industry guidance to Virtual Currency Entities who act as custodians, Guidance on Custodial Structures for Customer Protection in the Event of Insolvency, highlighting equitable and beneficial interests remaining with the customer.