Canadian regulators are working with counterparts in the United States as multiple jurisdictions investigate the multi-billion-dollar collapse of cryptocurrency lender Celsius Network LLC, according to sources with knowledge of the probes.
It is understood that provincial regulators including Quebec’s Autorité des marchés financiers (AMF) have been digging into the matter since mid-June, shortly after the crypto lender suspended customer redemptions.
Sources say the AMF’s investigation is being driven, in part, by the fact that the province’s largest pension manager, the Caisse de dépôt et placement du Québec, invested $150 million in New Jersey-based Celsius last October. In July, Celsius filed for Chapter 11 bankruptcy protection and owes users about US$4.7 billion.
On the retail front, the Quebec regulator is understood to be focusing on whether there are…