Earning Interest on Crypto & Fiat Has Never Been Easier as Nexo Offers Passiv...
Nexo, the trusted digital assets institution that was the first to introduce lending services to the crypto sector has surpassed many traditional investment instruments by also offering high yield returns in the form of daily interest payouts. Offering up to 12% passive income on its Earn on Crypto & Fiat product, Nexo has proven that […]
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Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blockfi with failing to register its retail crypto lending product and fining the firm $100 million, the crypto lender Nexo has announced it will no longer allow U.S. citizens to earn interest on new savings wallet top-ups. However, Nexo customers from the U.S. will continue to earn interest on their current savings wallet balances held prior to the announcement.
Nexo ‘Reveals Big Savings News for US Customers’
Last week, the SEC cracked down on the crypto lending....
Nexo's new service provides more than 75 cryptocurrency and fiat currency pairs for trading.
Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws.
Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product
Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state....
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 state Department of Financial Protection & Innovation says the crypto-interest account is an unqualified security; Nexo has limited the accounts since the BlockFi settlement with the SEC. The California Department of Financial Protection & Innovation (DFPI) has filed a desist and refrain order against crypto lending platform Nexo as part of its ongoing investigation of companies offering interest-bearing crypto assets accounts. The agency claims it is joining regulators from seven other American states in taking action against the company. The other states involved are Kentucky, New....