Nexo Pays $45M In Penalties And Settles With US Authorities

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.

Timeline of Nexo

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.

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.

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.

Key Points: Nexo Capital, a cryptocurrency lender, has agreed to pay $45 million in fines to the North American Securities Administrators Association (NASAA) and the U.S. Securities and Exchange Commission (SEC) for failing to register the offer and sale of its Earn Interest Product (EIP).

Crypto lending platform Nexo has settled with federal and state regulators in the United States for offering and selling unregistered securities, paying a total penalty of $45 million. The Securities and Exchange Commission (SEC) received $22.5 million, and the rest went to state regulatory authorities.

The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company's Earn Interest Product (EIP).

A week after Nexo's office in Bulgaria was raided, the crypto lender reached a settlement with the U.S. Securities and Exchange Commission (SEC) paying a total of $45 million in fines. The SEC has charged Nexo for the unregistered offering of its crypto lending product, the Earn Interest Product (EIP), to the U.S. investors.

Beleaguered crypto firm Nexo has had to pony up a $45 million penalty following charges filed by the Securities and Exchange Commission (SEC). Without admitting or denying the SEC's findings, Nexo agreed to a cease-and-desist order.