TechFlow news, according to CoinDesk, crypto lending platform Nexo has reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay a $45 million penalty and cease offering its "Earn Interest Product" (EIP). Nexo has agreed to pay $22.5 million in civil penalties to the SEC and an additional $22.5 million to resolve similar charges brought by state regulators.
Previously, Nexo began offering EIP to U.S. customers in June 2020. The SEC had previously alleged that Nexo offered and sold EIP without proper registration.Source link
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