FILE PHOTO: Celsius Network logo and representations of cryptocurrencies are seen in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
NEW YORK (Reuters) - Crypto lender Celsius Network has scaled back its post-bankruptcy business plans to focus only on bitcoin mining, citing U.S. regulators' skepticism of its other planned business lines.
Celsius, whose restructuring plan had also envisioned the company earning "staking" fees by validating blockchain transactions and managing its legacy portfolio of cryptocurrency loans, said in a statement late Monday it had changed course after receiving "feedback" from the U.S. Securities & Exchange Commission.
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