Securities Act of 1933
Nexo agrees to $45M settlement with SEC and states over earn product
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5 million will be paid in fines to settle similar charges by state regulatory authorities, the report said. NASAA said in its statement that the settlement in principle comes after investigations into Nexo’s alleged offer and sale of securities after the past year of inv...
