Crypto lender Nexo has entered into a consent agreement with the U.S. Securities and Exchange Commission (SEC) to pay a $45 million fine for offering an unregistered security in the U.S., in its 'Earn Interest Product.'
Crypto lender Nexo has entered into a consent agreement with the U.S. Securities and Exchange Commission to pay a $45 million fine for offering an unregistered security in the U.S., in its "Earn Interest Product.
"It's the latest in a string of actions by the agency that indicates any program where users deposit assets to earn interest in exchange for letting others borrow them must be registered as a security.“We are not concerned with the labels put on offerings, but on their economic realities. And part of that reality is that crypto assets are not exempt from the federal securities laws,” Gurbir S.
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