Browsing:Nexo

Nexo has agreed to stop offering the interest program and pay a $45 million penalty to settle with SEC.
3 weeks ago 1 min read

Nexo to Pay $45 Million Fine and Exit Crypto Lending Space Following SEC Settlement

Bulgarian authorities have accused Nexo Capital of allowing customers to use its platform for illegal activities, including money laundering, tax offenses, and financing terrorist activities. Nexo denies these claims. To make matters worse, the Securities and Exchange Commission (SEC) also charged the company on Thursday with selling unregistered securities. The SEC says that Nexo failed to register with them before offering its lending product, “Earn Interest.” In order to settle with the SEC, Nexo has agreed to stop offering the interest program and pay a $22.5 million penalty, plus an additional $22.5 million to settle with state regulators. The Director