Nexo Eyes SEC Broker Dealer License While U.S. Competitors Face Regulatory Pr...
There’s truly never a dull moment in DeFi. Reports have emerged this week that interest-yielding platform Nexo is pursuing an acquisition of an SEC licensed broker dealer with the intent to offer a “modified version” of the company’s products. How this would impact their current offering is unclear. The move comes at a time of seemingly increased rocky roads for DeFi platforms. Interest-Generating Products & Disruptive DeFi Along with the company’s pursuit of a licensed broker dealer, Nexo is also in talks with nationally chartered banks. The platform is....
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On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle. FINRA Grants Apifiny Prime a Broker-Dealer License The leading regulator that oversees American broker-dealers, FINRA has granted a broker-dealer license to Apifiny Prime. The license allows Apifiny to make private investor placements and vend securities,....
INX Limited, a cryptocurrency exchange that went public on Ethereum last month, agreed to purchase U.S. broker-dealer Openfinance Securities.
The SEC's broker-dealer guidance was generally welcomed as a step in the right direction by industry players.
Analysts fear NEXO price could come under pressure if regulatory action in the United States begins to intensify. Crypto lending firm Nexo is at risk of losing half of the valuation of its native token by the end of 2022 as doubts about its potential insolvency grow in the market.Is Nexo too centralized?For the unversed: Eight U.S. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers unregistered securities to investors without alerting them about the risks of the financial products. In particular, regulators in Kentucky accused Nexo of being....
The acquisition will reportedly allow Uphold to launch fractional equities in the United States in 2021. Cryptocurrency wallet and trading platform Uphold has received regulatory approval to purchase JNK Securities, a U.S. broker-dealer.In an announcement from Uphold today, the U.S. Financial Industry Regulatory Authority, or FINRA, gave the firm the green light to acquire JNK Securities. Uphold said the acquisition is aimed at allowing the platform to launch fractional equities in the United States later this year in addition to providing an interface for users to trade between crypto,....