Nexo is ceasing its EIP offer to US investors and has begun phasing out all of the products and services it offers in the United States. | Illustration by Alex Castro / The Verge
The cryptocurrency lending firm Nexo has been sanctioned by the US Securities Exchange Commission (SEC) for offering and selling unregistered securities, as part of the latest efforts by regulators to crack down on the crypto industry. Announced via an SEC press release on January 19th, Nexo has been fined $45 million for failing to register the offer and sale of a cryptocurrency lending product, Earn Interest Product (EIP), which promised returns on ...
