Crypto lender Nexo has entered into a consent agreement with the U.S. Securities and Exchange Commission (SEC) to pay a $45 million fine for offering an unregistered security in the U.S., in its 'Earn Interest Product.'
Crypto lender Nexo has entered into a consent agreement with the U.S. Securities and Exchange Commission to pay a $45 million fine for offering an unregistered security in the U.S., in its "Earn Interest Product.
"It's the latest in a string of actions by the agency that indicates any program where users deposit assets to earn interest in exchange for letting others borrow them must be registered as a security.“We are not concerned with the labels put on offerings, but on their economic realities. And part of that reality is that crypto assets are not exempt from the federal securities laws,” Gurbir S.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nexo Capital Inc. to stop offering of crypto lending product, pay $45 million penalty: SECU.S. securities regulators on Thursday charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product. To...
Read more »
Nexo pays $45 million to settle SEC and state charges for failing to register lending productCrypto lender Nexo settled charges from the SEC and state regulatory authorities over its crypto asset lending product.
Read more »
Crypto platform Nexo agrees to pay $45 million in fines by state and federal authoritiesThe Securities and Exchange Commission says Nexo Capital Inc. agreed to pay $45 million in fines to settle charges by the agency and state regulators.
Read more »
Crypto Lender Nexo Agrees to Pay $45 Million to Settle Regulatory InvestigationsCrypto lender Nexo Capital Inc. agreed to pay $45 million to settle claims that its product violated investor-protection laws, becoming the second digital-asset lender in a week to face a major enforcement action
Read more »
Crypto Lender Nexo to Pay $45M, Cease Offering EIP in Settlement With SEC.nexo settles charges with the SEC and state regulators over its Earn Interest Product, paying $45M and ceasing its offering in the U.S. SteveAlpher reports
Read more »
Nexo agrees to $45M settlement with SEC and NASAA over earn productCrypto lender Nexo Capital has reached a settlement with the United States Securities Exchange Commission and state regulators for the alleged unregistered offering of its earn product, settling for $45 million in penalties.
Read more »