Celsius faces pressure over its ICO token, suspending distribution with immediate effect

Celsius, a global cryptocurrency lending startup, could be in hot water over the status of its native token, after it took precautionary measures this week and suspended the asset's distribution in the US.

The firm, which sold CEL tokens for $50 million in an ICO in March 2018, sent an email to its American users (shown below) explaining that interest payments in the token, CEL, had been paused with immediate effect, saying the move had been prompted following instruction "from legal counsel."

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