The Vermont Department of Financial Regulation has joined a “multistate investigation” into troubled crypto lender Celsius.
The regulator found Celsius of not disclosing critical information such as it’s financial condition, investing activities, risk factors and ability to repay its obligations to depositors and other creditors.
The department also said that Celsius has been engaged in an “unregistered securities offering” by offering cryptocurrency interest accounts to retail investors.
The department also found Celsius lacking of money transmitter license, making them “operating largely without regulatory oversight.”
Reports have indicated regulators in Texas and Alabama were expanding investigations into Celsius and another troubled crypto lender Voyager following reports that firms may not have adequately disclosed financial condition to investors.