Finance Minister Nirmala Sitharaman made her comment in answer to a series of written questions from a member of parliament about cryptocurrency legislation.
While underscoring Celsius’s disregard for risk and weak controls, KeyFi’s lawsuit also casts new, unflattering light on the crypto whale known as @0x_b1.
Private and publicly listed crypto miners owe up to $4 billion in debt used to finance the construction of gargantuan facilities across North America, according to industry participants and data compiled by CoinDesk.
The publicly listed firm has transitioned its treasury to cash amid increased market volatility, but it hasn’t ruled out reinvesting in cryptocurrencies when the market settles down.