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Celsius Network Reopens Withdrawals of Distributable Assets in Custody Accounts

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Celsius Network Reopens Withdrawals of Distributable Assets in Custody Accounts

It is reported that the crypto lending platform Celsius Network tweeted that the withdrawals of distributable assets in some custody accounts will be reopened today. Eligible users will be notified of the steps they need to take to facilitate their withdrawal.

Celsius: The withdrawal of distributable assets in some custody accounts will be reopened today

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Celsius Network, one of the leading crypto lending platforms, made an announcement on its official Twitter account that it is reopening the withdrawals of distributable assets in some of the custody accounts, effective immediately. The tweet stated that eligible users would be notified of the necessary steps they need to take to facilitate their withdrawals.

As the name suggests, the Celsius Network is a lending platform that enables its users to earn interest on their cryptocurrency holdings by depositing them in the Celsius wallet. The platform has grown in popularity in recent years, especially among crypto enthusiasts who are looking to earn a return on their digital assets without the risks associated with trading or investing in the volatile cryptocurrency market.

The reopening of withdrawals of distributable assets in custody accounts on the Celsius Network is a positive development for investors who have been looking to cash out their returns. The decision to reopen the withdrawals comes after the platform had temporarily halted withdrawals in some of its custody accounts in response to regulatory scrutiny, which raised concerns about the platform’s compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.

The announcement of the reopening of withdrawals, however, did not specify which custody accounts or distributable assets were affected. Celsius Network advised users to check their accounts or contact support to determine if they are eligible to withdraw their distributable assets.

Overall, the reopening of withdrawals of distributable assets in custody accounts will be a welcome relief for users who have been waiting to cash out their returns. Investors should carefully consider their options, however, given the volatile nature of the cryptocurrency market. Additionally, investors should make sure they are aware of the regulatory requirements applicable to their accounts on the Celsius Network to ensure compliance.

Title: Celsius Network Reopens Withdrawals of Distributable Assets in Custody Accounts

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