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Nexo announced the plans to discontinue its Earn Interest Product citing an investigation from the federal Consumer Financial Protection Bureau.

British lender following problems with regulators is forced to suspend service to customers in eight countries

Nexo, a leading crypto lender based in the UK, has announced a phased exit from the United States. The latest Nexo news comes just a few months after the company revealed a stake in a US-based bank as it sought to bolster its presence in the country.

Nexo, a platform for lending cryptocurrency, says it is “phasing out” its U.S. operations because it has to deal with a lot of regulators. In a statement announcing a “gradual” departure, Nexo cited a “dead end” in talks with U.S. regulators.

"Regulators are unwilling to coordinate with one another, and are insistent on taking positions that are inconsistent with one another, creating an impossible environment to operate."

Nexo will wind down product offerings as it looks to exit the U.S. market after failing to strike a clear path forward with regulators. The post Nexo to Leave US After Hitting Brick Wall With Regulators appeared first on BeInCrypto.

Nexo said it is too difficult to comply with the “inconsistent and changing positions” of regulators in the United States. 

Nexo will phase out its products and services in the United States over the coming months.  The cryptocurrency managing and lending platform said in a Monday (Dec.

Nexo will phase out its products and services in the United States over the coming months.  The cryptocurrency managing and lending platform said in a Monday (Dec.

Lack of consistent, explicit regulations in America has caused Nexo to pull its crypto services from the U.S. market.

The crypto lending platform says it will no longer accept new registrations, and operations for existing customers will eventually be wound down.

On Dec 5, crypto lender Nexo announced that it would discontinue operations in the United States within the next few months. The company specifically mentioned that it would immediately cut off access to its "Earn Interest Product" in eight U.S. states and is no longer allowing new registrations for its Earn product.

Nexo, a crypto savings and lending provider, has decided to end operations in the United States over the next few months.

Nexo has announced that it is shutting down its U.S business due to the lack of regulatory clarity.

The U.K. crypto lender said it would suspend access to its Earn product in eight states from tomorrow.

The firm has faced a legal dogpile from various state and federal regulators within the U.S. as scrutiny on lenders ramped up over the past year.  The post Crypto lender Nexo says it's leaving the U.S., cites regulatory ‘dead end' appeared first on The Block.

Nexo Co-Founder and Managing Partner Antoni Trenchev joins Yahoo Finance Live to weigh in on the fallout for the crypto market amid the collapse of FTX and why he doesn't think it will have much of an impact on his company's performance.

UK-based crypto lender Nexo said on Monday it would phase out its U.S. products and services over the coming months due to clashes with regulators.

On Dec 5, crypto lender Nexo announced that it would discontinue operations in the United States within the next few months. The company specifically mentioned that it would immediately cut off access to its “Earn Interest Product” in eight U.S. states and is no longer allowing new registrations for its Earn product.

Nexo announced it would quit the United States market in the coming months The company is shutting down operations after failed talks with the US regulators The year continues to be a troubled one for crypto lending platforms. Nexo – a UK-based crypto lender – is the latest one to hit the headlines.

Crypto lender Nexo announced on December 5 that it was phasing out its products and services in the United States due to a lack of regulatory clarity. The post Nexo bows out of US, cites regulatory uncertainty appeared first on CryptoSlate.

Nexo will immediately suspend access to its Earn product in several U.S. states.

BeInCrypto takes a look at five altcoins that decreased the most from the entire crypto market last week, more specifically, from Nov. 25 to Dec. 2.  The post Convex Finance, Curve DAO Token, Nexo, Solana, and Bitcoin Cash Take a Beating This Week appeared first on BeInCrypto.

Nexo's drive for compliance means the company has over 50 licenses.