Cayman Islands crypto lender fined $45m by SEC over unregistered US product   

Mark Battersby
clock • 3 min read

The US Securities and Exchange Commission said on 19 January it has charged Nexo Capital with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP).  To settle the SEC's charges, Nexo agreed to pay a $22.5mpenalty and cease its unregistered offer and sale of the EIP to US investors.  In parallel actions also announced yesterday, Nexo agreed to pay an additional $22.5m in fines to settle similar charges by state regulatory authorities. Nexo was formed in the Cayman Islands in 2018. According to the SEC's order, in or ar...

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