Nexo SEC Settlement (2023) event

Event · PageRank 0.0000

Overview

In January 2023 the SEC charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto lending product, the Earn Interest Product (EIP), and announced a settlement. Nexo agreed to pay $45 million in total — $22.5 million to the SEC and $22.5 million to state regulators — and to stop offering the unregistered interest-bearing product to US investors. Regulators said the EIP held roughly $2.7 billion in assets from about 112,000 US investors. Nexo did not return to the US market until 2026.

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Frequently asked questions

What did the SEC charge Nexo with?

Failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product, as a security.

How much did Nexo pay?

$45 million in total: $22.5 million to the SEC and $22.5 million to state regulators.

How large was the Earn Interest Product?

Regulators reported roughly $2.7 billion in assets from about 112,000 US investors at the time of the settlement.