Legal
Celsius Judge Asks SEC to Weigh In on Restart Plan, Quickly
- Judge hopes SEC will weigh-in on Celsius’s proposal, soon
- Celsius is seeking authority to transform into Bitcoin miner
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The New York judge overseeing Celsius Network LLC’s bankruptcy urged the US Securities and Exchange Commission to move quickly in deciding if it will authorize the failed crypto lender’s plan to transform itself through Chapter 11 into a publicly-traded Bitcoin mining firm.
Judge Martin Glenn told an SEC lawyer during a Monday court hearing he hopes the regulator will go through its own decision-making process expeditiously because Celsius and its creditors have moved through Chapter 11 relatively quickly.