Digital Securities Lab Community Manager
- May 30, 2022
Crypto lender Nexo today announced it will gradually phase out U.S. products and services over the coming months due to hitting a “dead end” with regulators. The U.K. company said in a Monday announcement that it had been talking with regulators for 18 months but the U.S. “refuses to provide a path for enabling blockchain businesses.” Nexo is a digital asset platform that loans out client funds and uses the proceeds to pay interest.
Nexo to Phase Out Service in US After Hitting 'Dead End' With Regulators - Decrypt
Crypto lender Nexo today said it would be suspending access to its Earn product in several U.S. states after clashing with regulators.