Nexo agrees to pay $ 45 million to the SEC and state supervisory authorities for the non-registered offer of an interest-earning product-
Nexo agrees to pay $ 45 million to the SEC and state supervisory authorities for the non-registered offer of an interest-earning product-
The cryptocurrency loan Nexo has agreed to pay $ 45 million to the US stock exchange supervisory authority (SEC) and several state supervisory authorities after charges against the company because the company's EARN Interest Product (EIP) had not registered. Nexo explained that the comparisons were admitted on the basis of "No Admitted, No Deny" and that the agreement "concludes all several years of investigations into Nexo".
Nexo pays $ 22.5 million to the SEC and $ 22.5 million to several state regulatory authorities for the EIP offer
On January 19, 2023, Nexo announced that a comparison with the US Securities and Exchange Commission (SEC), the North American Securities Administrator Association (NASAA) and several state supervisory authorities, including the New York Attorney General, approved. About an un registration offer.
According to the SEC, Nexo started offering the company's Earn Interest Product (EIP) in June 2020, an interest-enhancing product that enables investors to earn interest on stored crypto assets. The US supervisory authority said the EIP is a securities and that the offer and sale of the EIP did not qualify for an exception to the SEC registration. "
The co -founder of Nexo, Kosta Kantchev, replied to the agreement in a statement sent to Bitcoin.com News. "We are confident that a clearer regulatory landscape will soon develop and that companies like Nexo will be able to offer value -adding products in the United States in a compliant manner, and the United States will continue to consolidate its position as the global innovation engine," said Kantschew. The second chairman Gary Gensler described the agreement differently. "We have accused Nexo of not registering his crypto-lending product for private customers before we offered the public and thus avoided significant disclosure obligations to protect investors," said Gensler. "Compliance with our proven public guidelines is no choice. Where crypto companies do not adhere to it, we will continue to follow the facts and the law in order to fold them into account. In this case, Nexo is, among other things, to set his incredible loan product for all US investors." Antoni Trenchev, co -founder of Nexo, thanked the legal team of the company of Schulte Roth and Zabel LLP and said that the New York public prosecutor's office helped Nexo to achieve this "cheapest" result. "We are satisfied with this uniform resolution, which puts a clear end to all speculations about the relationships between Nexo to the United States. We can now concentrate on what we can do best - seamless financial solutions for our worldwide audience," explained Trenchev on Thursday in a statement. The agreement of Nexo with the US supervisory authorities follows the recent determination into the shops of Nexo, which were initiated by Bulgarian law enforcement officers. However, the crypto lender, however, Attorney General. What do you think about the result of the Nexo comparison and its effects on the regulatory landscape for crypto companies in the United States? Share your thoughts on this topic in the comment area below. Bedy verification : Shutterstock, Pixabay, Wiki Commons, image rights of the editor: David Tran Photo/Shutterstock.com 
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