1 year ago
Crypto lender Nexo announced connected Dec. 5 that it was phasing retired its products and services successful the United States owed to a deficiency of regulatory clarity.
Today we are announcing the regrettable but indispensable determination that Nexo volition beryllium phasing retired its products and services successful the United States owed to a deficiency of regulatory clarity. 
— Nexo (@Nexo) December 5, 2022
Nexo stated that its “18 months of good-faith dialog with U.S. authorities and national regulators” had not yielded the desired results arsenic their positions were inconsistent and ever changing.
According to radical adjacent to the matter, “the US has embarked connected a regulatory clampdown with blockchain firms taking the brunt portion they effort to supply a mode for customers to support themselves from the economical downturn.”
Nexo said it has off-boarded New York and Vermont clients and has besides suspended registrations for each US clients for its Earn Interest Product. From Dec. 6, its Earn Interest Product volition nary longer beryllium disposable for its existing clients successful 8 U.S. states –Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington.
The station Nexo bows retired of US, cites regulatory uncertainty appeared archetypal connected CryptoSlate.
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