Nexo, one of the cryptocurrency lending companies, is withdrawing from the US market due to problems with legal regulations.
According to the statement made by Nexo, the company His talks with regulators in the US will “get nowhere” understood.
Nexo management, considering that no progress can be made in regulation, has withdrawn from the US market. gradual withdrawal took the decision.
The company said that one of the biggest problems it has with regulators is the platform. “Earn” states that the service is due.
According to Nexo’s statement, the U.S. Securities and Exchange Commission (SEC) states that this service has security status and enters its jurisdiction while in the country Consumer Financial Protection Bureau (CFPB) about this service start an investigation wanted.
Nexo management is responsible for this service only. can be overseen by securities regulators. stated and objected to the CFPB’s request, but CFPB officials rejected this objection. they did not accept.
Nexo, which manages most of its activities through Bulgaria, offers its US customers who have just joined the Earn program due to the restrictions imposed by the regulations. stopped paying interest.