Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product – Bitcoin News

Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product

According to the SEC, around June 2020, Nexo started to offer the company’s Earn Interest Product , an interest-earning product that allows investors to earn interest on deposited crypto assets. The U.S. regulator, “the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration.”

🇺🇸 regulators r here to make money Guarding no investors as far as I remember

SEC are crooks! Corrupt regulation, just looking for a payout. Money goes straight into the pockets of a few.

I don't understand, if a crypto platform does something wrong, why they pay SEC? Should not go this money to the people...

If they're paying, it means they actually did something wrong.

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The last thing they could do

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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. CryptoSeq Does anyone knows what SEC does with all these money they acquire as free/out of thin air? Excellent news for Nexo.
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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...
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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 Nexo SEC SteveAlpher Nexo has also come out with an official statement regarding the matter, which can be seen here: Nexo SEC SteveAlpher This is HUGE right? Nexo SEC SteveAlpher Nexo This is fxcking good news! Nexo can now work on solutions and conquer the US! Only pitty for the fine of 45million! But it now clear ! The only way is up now. Nice price movement by the way😍
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