SEC Raises Concerns Over Coinbase's Role in Celsius Bankruptcy Plan

The U.S. Securities and Exchange Commission (SEC) has objected to Celsius Network's reorganization plan, citing its ongoing lawsuit with Coinbase as a concern. The SEC filed a limited objection and reservation of rights, stating that a distribution services agreement between Celsius and Coinbase may require Coinbase to provide services related to the commission's civil suit against the exchange. Celsius has been revising its restructuring plan since March, while Coinbase faces an SEC lawsuit over allegedly offering unregistered securities. The next hearing in the bankruptcy case is scheduled for October 5.