Crypto Lender Nexo agrees to pay $45 million to US Regulators

Crypto lender Nexo has agreed to pay $45 million to settle claims with US regulators and will cease the unregistered offering of crypto products.

This was announced on January 19 by the United States Securities and Exchange Commission, which accused Nexo of violating rules by offering a product that should have been registered with regulators before sold to the public.

Nexo reaches landmark resolution with U.S. Regulators

To avoid an investigation by authorities, the Bulgarian-founded company will pay a $22.5 million penalty and an additional equal amount in fines.

In the out-of-court settlement, Nexo does not admit or deny the agency's findings. The monetary penalty is payable over a 12 month period.

In its position paper to the media, Nexo stressed that there were no allegations whatsoever by US regulators that the company had engaged in fraudulent or deceptive trade practices.

This brings to an end the US regulators' investigations into Nexo's business activities.