The OHIO regulatory authority is followed by the nationwide comparison against the Nexo cryptoplatt form
The OHIO regulatory authority is followed by the nationwide comparison against the Nexo cryptoplatt form
The Ohio Division of Securities added its name to the $ 22.5 million comparison with several countries cryptocurrency light form Nexo.
US supervisory authorities had previously claimed that the company did not comply with the local requirements for the offer of EARN Interest Products (EIP).
Ohio appears to the club at
The watchdog of the "Buckeye State" output A consent against Nexo and thus joined other US states Cryptocurrency company violated some rules when offering Earn Interest Products (EIP). The company advertised its option through social media channels and on its website among US consumers and said they could achieve returns of up to 36 %.
The North American Securities Administrators Association (NASAA) and the SEC insisted that Nexo did not reveal important information about the products and did not show the risks for investors. By the end of July 2022, over 2,300 inhabitants of Ohio took part in the program and jointly distributed more than $ 15 million. Nexo had 93,318 EIP investors in the United States who have provided around $ 800 million
"All financial services companies, including those who offer services for crypto-assets, must comply with Ohio's securities laws. In cooperation with NASAA and other state security supervisory authorities, we will continue to protect the investments of the inhabitants of Ohio and make sure that the companies working here follow our securities laws, ”explained Andrea Seidt - Securities Supervisory Authority of Ohio. Nexo agreed to pay $ 22.5 million in order to solve the problems with the Supervisory Authorities of Ohio and the other states as well as the authorities of Puerto Rico, the American Virgin Islands and the District of Columbia. It also promised to stop the offer in Ohio and to stop the interest payments for all existing EIP accounts on April 1, 2023. The local supervisory authority demanded consumers who are affected by the activities of Nexo, or those who believe that they have become victims of investment fraud on the department online. Investors warned against dealing with such platforms only after they have carried out and checked a reasonable diligence whether they are registered with the designated watchdogs. The crypto mature volunteers span-preserver-spaces = "true"> in January to pay in the amount of $ 45 million to numerous companies. It transferred half of the sum to the SEC, while the remaining $ 22.5 million were distributed to at least 17 separate state securities supervisory authorities. The chairman of the SEC, Gary Gensler, explained that Nexo was accused of not registering his EIP program and not because it was operated: "We have accused Nexo of not registering his crypto-lending product for private customers before it was offered to the public, and thus bypassing significant disclosure obligations to protect investors. Compliance with our proven public guidelines is not a choice.
Where crypto companies do not stick to it, we will continue to follow the facts and the law to hold them into account. In this case, Nexo, among other things, hires his non-registered loan product for all US investors. ” . Nexo's fine of $ 45 million