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The shutdown of Nexo's earn product follows from a multi-million dollar settlement the firm paid last month with U.S. regulators.

The crypto lender has urged US-based customers to withdraw their funds soon.

Key Points: Cryptocurrency lending platform Nexo will stop offering its “Earn Interest Product (EIP)” lending product to all US customers (including citizens and residents) on April 1.

"We ask that you begin planning the withdrawal of your funds at a convenient time by this date," the company said.

Nexo is considering filing a $1 billion lawsuit against Bulgaria for the “absurd and illegal” attack on its offices.

The Bulgarian authorities launched their attack on Nexo to sabotage the third mandate, Trenchev maintained.

The US Securities and Exchange Commission (SEC) has levied a $45 million fine on Nexo Capital Inc. The SEC explains the reason for the fine in a tweet, Today we 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 charges, Nexo agreed to pay $22.5 million and cease its unregistered offer and sale of the EIP to U.S. investors.

Nexo has settled the federal and state charges brought against its crypto asset lending product. The Securities and Exchange Commission (SEC) said in a Thursday (Jan.

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP).

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP).

A former high-ranking executive of the U.S. Securities and Exchange Commission (SEC) is calling out crypto lender Nexo's multimillion-dollar settlement with the regulatory agency. According to a new press release, Nexo has agreed to a settlement deal with the SEC for selling unregistered securities that will see it paying the regulatory body $22.5 million.

U.S. regulators have charged Nexo Capital with failing to register retail crypto lending product before offering it to the public.

The Nexo crypto exchange is pulling operations out of the U.S. as it faces SEC punishment. It could be the start of a new trend.

In response to charges that the digital asset company, Nexo Capital Inc., had violated securities regulations by marketing a cryptocurrency lending product, the firm has agreed to pay a penalty of $45 million to U.S. SEC. However, a former SEC official has raised doubts about Nexo's self-proclaimed “win” in the crypto market when the financial The post Former SEC Chief Lashes Out On Nexo's $45 Mn Deal With SEC appeared first on CoinGape.

In addition to paying fines, Nexo will reportedly cease its unregistered lending product to all US investors. 

Concerning its Earn Interest Product, Nexo has settled with the SEC and the NASAA for $22.5 million each.

Bitcoin (CRYPTO: BTC) recorded gains this morning, with the cryptocurrency prices surging back above the key $21,000 level on Friday. Ethereum (CRYPTO: ETH), also traded higher above the key $1,500 mark on Friday.

Nexo agreed to pay $22.5 million and cease its unregistered offer

Problem related to allegations of selling unregistered securities has been resolved

Crypto lending company Nexo has agreed to pay a total of $45 million to US regulators to settle claims that it failed to register the sale of its Earn Interest Product (EIP).

As of recent reports, Nexo Capital Inc has reached an agreement with the US SEC for several accusations it made on them. Nexo will pay $45 M as well as stop its interest program.

The Securities and Exchange Commission (SEC) charged Nexo with selling unregistered securities on 19 January 2023. Allegedly, the company failed to register with the SEC before offering Earn Interest, a crypto lending product, to users.

Bulgarian cryptocurrency lending platform Nexo has been charged US$45mln by the US Securities and Exchange Commission (SEC) after failing to register its Earn Interest Product (EIP) asset-lending product. Following an investigation, the SEC determined that EIP is an unregistered security and therefore violated the Securities Act of 1933.

Despite agreeing to the settlement, the crypto lender did not admit or dispute the findings of the SEC's inquiry.