Nexo has reached a final landmark resolution with the U.S.

Question

Nexo has reached a final landmark resolution with the U.S.

Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), consisting of all 50 U.S. States & 3 territories and the Attorney General of New York.

Characteristics of the settlement with U.S. Federal regulators:

– The settlements are on a no-admit-no-deny basis

– The sole allegation was that Nexo’s Earn Interest Product was an unregistered securities offering.

– This closes all multi-year-long inquiries into Nexo.

The federal regulators do not contend that Nexo engaged in any fraud, or misleading business practices, or that any Nexo customers have been harmed or misled about Nexo’s financial health.

Nexo believes that the company has been recognized for what it truly is - a pioneer, like Uber and Airbnb, providing disruptive solutions in a fast-paced environment.

As innovators do not quite fit into existing provisions, constructive dialogue for the enhancement of the prevailing regulatory frameworks is of paramount importance.

As our co-founder said: “We are confident that a clearer regulatory landscape will emerge soon, and companies like Nexo will be able to offer value-creating products in the United States in a compliant manner.”

Nexo has thrived despite in downturn and is among the few to emerge unscathed from the 2022 round of bankruptcies that shook our industry. How? By adhering to stringent risk management and by meeting our regulatory and KYC/AML/CTF obligations from day 1.

Nexo’s philosophy of building a robust and sustainable business model has once again delivered without compromise. We will keep upholding the highest compliance standards and growing the digital asset economy in a responsible way, for you.

Thank you for being on this journey and for growing with us. Onwards and upwards. 🚀

👇
https://nexo.io/media-center/nexo-reaches-landmark-resolution-with-us-regulators

#cryptocurrency #english #nexo

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20.01.2023

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Goody · Accepted Answer

Goody

Congrats Nexo. To the moon

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20.01.2023

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Nexo has reached a final landmark resolution with the U.S.

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