Is Celsius banning new transfers from nonaccredited investors?

Cryptocurrency lender Celsius is banning new transfers from nonaccredited investors on its U.S. platform from earning rewards on its program effective Friday. Starting April 15, only “accredited” U.S. investors will be able to add new assets and earn rewards on Celsius' Earn platform, said the company.

Is Celsius's crypto-earn offering open to non-accredited investors?

Celsius announced this week that its crypto-earn product will soon be off limits to most U.S. investors. As of April 15, Celsius will not accept new deposits to its Earn accounts from non-accredited U.S. investors. Read on to find out more about the move and what it means for similar offerings in the U.S.

Who qualifies as a Celsius customer?

For example, a person with a net worth of over $1 million might qualify. Customers outside the U.S. will not be affected. Celsius is under investigation in several U.S. states. Authorities in Texas, New Jersey, and Alabama have questioned whether its products violate U.S. securities laws.

Who qualifies as an accredited investor?

To qualify as an accredited investor, users need to meet set income or net worth criteria or hold certain licenses. For example, a person with a net worth of over $1 million might qualify. Customers outside the U.S. will not be affected. Celsius is under investigation in several U.S. states.