{"id":466072,"date":"2022-06-21T10:27:01","date_gmt":"2022-06-21T07:27:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/"},"modified":"2022-06-21T10:27:01","modified_gmt":"2022-06-21T07:27:01","slug":"law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/","title":{"rendered":"# Law Decoded, June 13\u201320: Celsius exodus and liquidity crisis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ee2f1a75cf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ee2f1a75cf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/#%E2%80%9D_Law_Decoded_June_13%E2%80%9320_Celsius_exodus_and_liquidity_crisis_%E2%80%9C\" >&#8221; Law Decoded, June 13\u201320: Celsius exodus and liquidity crisis  &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/#Gary_Gensler_attacks_a_Lummis-Gillibrand_bill\" >Gary Gensler attacks a Lummis-Gillibrand bill\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/#Last-minute_veto_in_Panama\" >Last-minute veto in Panama<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\/#A_Dogecoin_lawsuit_for_Elon_Musk\" >A Dogecoin lawsuit for Elon Musk<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Law_Decoded_June_13%E2%80%9320_Celsius_exodus_and_liquidity_crisis_%E2%80%9C\"><\/span>&#8221; Law Decoded, June 13\u201320: Celsius exodus and liquidity crisis  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmI2ZmY0MDItODliYy00MDg5LTg2MDMtMzU2YTA5NjU5MzA4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Last week, the Celsius Network wrote its name in the alarming recent history of the crypto market failures alongside Terra. The American platform has unstaked $247 million worth of Wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Bitcoin (wBTC) from the Aave protocol and sent it to crypto exchange FTX while putting the withdrawal option for users on a stop.\u00a0<\/p>\n<p>Im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely after that, United States securities regulators from five states \u2014 Alabama, Kentucky, New Jersey, Texas and Washington \u2014 opened an investigation into Celsius. This isn\u2019t the first time the platform is facing suspicions from law enforcement. In September 2021, The Texas State Securities Board scheduled a hearing related to allegations that the network had offered and sold securities in the state that were not registered or permitted. <\/p>\n<p>What is worrying, though, is that Celsius might not appear as a single case of poor management but the first victim in a row amid the ongoing liquidity crisis in crypto. By the end of the week, Hong Kong-based asset manager Babel Finance announced the temporary suspension of redemptions and withdrawals from its products, citing \u201cunusual liquidity pressures.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Gary_Gensler_attacks_a_Lummis-Gillibrand_bill\"><\/span>Gary Gensler attacks a Lummis-Gillibrand bill\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>United States Securities and Exchange Commission (SEC) Chair Gary Gensler admitted that he\u2019s worried, and the object of his anxiety is the recently published \u201cResponsible Financial Innovation Act,\u201d co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand. Speaking at The Wall Street Journal\u2019s CFO Network Summit, Gensler implied the bill has the potential to \u201cundermine the protections we have in a $100 trillion capital market.\u201d<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Last-minute_veto_in_Panama\"><\/span>Last-minute veto in Panama<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Sometimes months or even years of optimistic development can just stop at one moment. It happened in Panama, as the country\u2019s president Laurentino Cortizo has partially vetoed Bill No. 697. A \u201ccrypto bill\u201d passed the National Assembly voting in April 2022, but Cortizo was pretty clear even at that point, threatening to veto the document unless it included additional Anti-Money Laundering (AML) rules. Should the bill finally receive the president\u2019s signature, it would make Panama the second Central American country to regulate the spending of cryptocurrencies.\u00a0<\/p>\n<p><strong>Continue reading<\/strong> <\/p>\n<h3><span class=\"ez-toc-section\" id=\"A_Dogecoin_lawsuit_for_Elon_Musk\"><\/span>A Dogecoin lawsuit for Elon Musk<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Billionaire Elon Musk has been used for\u00a0$258 billion\u00a0on the allegations of being \u201cengaged in a crypto pyramid scheme\u201d involving Dogecoin (DOGE): a number that might be a bit audacious, as it exceeds Dogecoin\u2019s all-time high market cap by three times. In the filing, one of the plaintiffs states that Musk and his corporations were \u201cunjustly enriched\u201d by $86 billion as a result of wire fraud, gambling enterprise, false advertising, deceptive practices and other unlawful conduct. The case could certainly color up the media space.\u00a0<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-june-13-20-celsius-exodus-and-liquidity-crisis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Law Decoded, June 13\u201320: Celsius exodus and liquidity crisis &#8220; Last week, the Celsius Network wrote its name in the alarming recent history of the crypto market failures alongside Terra. The American platform has unstaked $247 million worth of Wrapped Bitcoin (wBTC) from the Aave protocol and sent it to crypto exchange FTX while&#8230;<\/p>\n","protected":false},"author":1,"featured_media":466073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmI2ZmY0MDItODliYy00MDg5LTg2MDMtMzU2YTA5NjU5MzA4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75700,74898,43256,70934],"class_list":["post-466072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-panama","tag-sec","tag-hong-kong","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=466072"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/466073"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=466072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=466072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=466072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}