The Caisse de dépôt et placement du Québec-backed Celsius Network, Toronto Stock Exchange-listed Voyager Digital and Gemini, a cryptocurrency-trading platform founded by the Winklevoss twins, are under review by the U.S. Securities and Exchange Commission as it seeks to determine whether interest-bearing crypto deposits should be registered as securities, according to a Bloomberg report citing people familiar with the matter. (Bloomberg)

Talking point: The review, which does not mean the companies have done anything wrong, adds to growing scrutiny of the crypto lending sector in the U.S. The SEC launched a review of competitor BlockFi in November 2021, and state securities regulators have initiated enforcement action against BlockFi and Celsius, over allegations the companies disputed. Coinbase has proposed a special crypto regulator, after cancelling a planned lending project amid regulatory pushback. The CDPQ declined The Logic’s request to comment on Bloomberg’s report.