The sources also said that the CBIC is currently preparing a draft on the applicability of GST on VDAs, and discussions on the same are at an early stage.
The probe by the SEC's enforcement unit predates the agency's investigation into an alleged insider trading scheme that was revealed last week, as per the report.
Celsius' assets shrank amid the extreme volatility, and its freezing of customer accounts was an attempt to stem losses and stabilize its business.
Celsius froze withdrawals last month, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market.
New Jersey-based Celsius listed estimated assets and liabilities on a consolidated basis in the range of $1 billion to $10 billion.
Stablecoin TerraUSD has been hit by the turmoil and broke its peg to the US dollar, which led to it falling as low as 31 cents on Wednesday.
Stablecoins have a market cap of around $170 billion, making them a relatively small part of the overall cryptocurrency market, which is currently worth around $1.2 trillion.
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