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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInNexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product
The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. […]
Eight states file action against Nexo crypto-lending platform
Eight states announced on Monday they’re bringing actions against the crypto-lending platform Nexo Group in connection with its unregistered, interest-bearing cryptocurrency product. State regulators in California, Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington and Vermont allege Nexo offered customers interest-earning accounts without first registering them as securities and providing necessary disclosures. Without access to […]