Share this article
BTC
$79,738.71
-
4.00%ETH
$1,624.71
-
9.02%USDT
$0.9996
-
0.03%XRP
$1.9999
-
6.31%BNB
$558.36
-
5.40%USDC
$1.0001
-
0.02%SOL
$108.28
-
9.29%DOGE
$0.1528
-
9.02%TRX
$0.2334
-
1.77%ADA
$0.5896
-
9.06%LEO
$8.8877
-
2.26%LINK
$11.59
-
8.61%TON
$3.0615
-
5.71%XLM
$0.2415
-
4.17%AVAX
$16.44
-
7.88%SHIB
$0.0₄1147
-
6.63%SUI
$1.9452
-
11.20%HBAR
$0.1443
-
10.47%OM
$5.9870
-
4.47%LTC
$73.04
-
11.19%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Crypto Lender Nexo to Pay $45M, Cease Offering EIP in Settlement With SEC
Nexo began offering its Earn Interest Product to U.S. customers in June 2020.
The U.S. Securities and Exchange Commission (SEC) charged crypto lender Nexo with failing to register the offer and sale of its Earn Interest Product (EIP). Nexo has agreed to pay a $22.5 million fine to the SEC and another $22.5 million to settle similar charges by state regulators.
In agreeing to the settlement, the SEC took note of Nexo's decision in December 2022 to voluntarily halt access to its EIP in eight states and stop signing up any new U.S. customers. Previously to that, Nexo had off-boarded clients in two other states.
STORY CONTINUES BELOW
Nexo faces regulatory issues elsewhere as well, with a report last week of Bulgarian authorities probing the company on suspicion of money laundering, tax offenses, banking without a license and computer fraud.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
