{"id":475414,"date":"2022-07-18T23:30:00","date_gmt":"2022-07-18T20:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/"},"modified":"2022-07-18T23:30:00","modified_gmt":"2022-07-18T20:30:00","slug":"celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/","title":{"rendered":"# Celsius has finally filed for bankruptcy: Law Decoded, July 18-25"},"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-6a4130932a21a\" 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-6a4130932a21a\" 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\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/#%E2%80%9D_Celsius_has_finally_filed_for_bankruptcy_Law_Decoded_July_18-25_%E2%80%9C\" >&#8221; Celsius has finally filed for bankruptcy: Law Decoded, July 18-25 &#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\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/#One_point_to_Ripple_in_a_case_against_SEC\" >One point to Ripple in a case against SEC<\/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\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/#Andorra_is_one_step_closer_to_its_Digital_Assets_Act\" >Andorra is one step closer to its Digital Assets Act\u00a0<\/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\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\/#Cryptocurrencies_are_to_become_a_%E2%80%9Cfinancial_product%E2%80%9D_in_South_Africa\" >Cryptocurrencies are to become a \u201cfinancial product\u201d in South Africa<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Celsius_has_finally_filed_for_bankruptcy_Law_Decoded_July_18-25_%E2%80%9C\"><\/span>&#8221; Celsius has finally filed for bankruptcy: Law Decoded, July 18-25 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMmIxOTUzNjItMWFlNC00OTBlLWJmYzktN2VhOWEzMzIwMmNlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Reducing your initial debt of $820 million to just $0.013 over a month can\u2019t be easy. And, it\u2019s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending platform voluntarily filed petitions for Chapter 11 reorganization after closing off the last of its decentralized finance (DeFi) debts owed to Compound, Aave and Maker.\u00a0<\/p>\n<p>Although a Chapter 11 bankruptcy allows a company to stay in business and restructure its obligations, and there are successful examples such as American Airlines, Delta, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Motors, Hertz and Marvel, some experts voice skepticism regarding Celsius\u2019 chances to stay afloat. The proceedings could mean investors and customers of Celsius may not see their funds returned for the \u201cforeseeable future,\u201d similar to the fallout from the Mt. Gox hack in 2014, which is still ongoing.<\/p>\n<p>And, the external legal pressure surely doesn\u2019t help the platform. With the local Department of Financial Regulation (DFR) reminding users that the firm is not licensed to offer its services in the state, Vermont has become the sixth American state that issued a warning against Celsius. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"One_point_to_Ripple_in_a_case_against_SEC\"><\/span>One point to Ripple in a case against SEC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The United States Securities and Exchange Commission (SEC) has suffered a blow in its case against Ripple after a U.S. judge denied its claims for attorney-client privilege regarding internal documents related to the Hinman speech. In <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dropbox.com\/s\/c3mfvibgxig0vrx\/Decision%20Denying%20SEC%20AC%20Privilege%20Claims.pdf?dl=0\">denying<\/a> the motion, U.S. Magistrate Judge Sarah Netburn called out the SEC\u2019s hypocrisy in arguing that the speech \u2014 in which a former official Bill Hinman suggested Ether (ETH) was not security \u2014 was a personal matter for Hinman while also claiming it should be protected because he received legal advice from the SEC to confirm the commission\u2019s policies.<\/p>\n<p>Continue reading<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Andorra_is_one_step_closer_to_its_Digital_Assets_Act\"><\/span>Andorra is one step closer to its Digital Assets Act\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A tiny European country nestled between France and Spain, Andorra, is swiftly moving to its crypto regulation framework \u2014 the respective Digital Assets Act was recently <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>roved by the local government. Although cryptocurrencies are not legal tender in Andorra, and the Digital Assets Act makes no proposals surrounding means of exchange, the CEO of a local Bitcoin (BTC) business highlights that Andorra could adopt a Bitcoin standard, mining Bitcoin with renewable energy, taking on Bitcoin as a reserve asset and welcoming Bitcoin-centric companies from all around the world.\u00a0<\/p>\n<p>Continue reading<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cryptocurrencies_are_to_become_a_%E2%80%9Cfinancial_product%E2%80%9D_in_South_Africa\"><\/span>Cryptocurrencies are to become a \u201cfinancial product\u201d in South Africa<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The South African Reserve Bank is set to introduce regulations next year that will see cryptocurrencies classed and treated as financial assets to balance investor protection and innovation. With more than six million people in the country having cryptocurrency exposure, regulation of the space has long been a talking point \u2014 it will allow the sector to be monitored for money laundering, tax evasion and terrorism financing. And, of course, to comply with global guidelines set out by the Financial Action Task Force (FATF).\u00a0<\/p>\n<p>Continue reading<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/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\/celsius-has-finally-filed-for-bankruptcy-law-decoded-july-18-25\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Celsius has finally filed for bankruptcy: Law Decoded, July 18-25 &#8220; Reducing your initial debt of $820 million to just $0.013 over a month can\u2019t be easy. And, it\u2019s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending platform voluntarily filed petitions for Chapter 11 reorganization&#8230;<\/p>\n","protected":false},"author":1,"featured_media":475415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMmIxOTUzNjItMWFlNC00OTBlLWJmYzktN2VhOWEzMzIwMmNlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74868,75034,74898,70934,72602],"class_list":["post-475414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-defi","tag-ripple","tag-sec","tag-regulation","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475414","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=475414"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/475415"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=475414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=475414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=475414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}