Nexo sues Cayman Islands monetary regulator over VASP license

Nexo sues Cayman Islands monetary regulator over VASP license

The identical week that Bulgarian authorities had been raiding Nexo’s offices and indicting four other folks for bills associated to money laundering, the crypto lender filed suit in the Cayman Islands.

In a file dated Jan. 12, Nexo filed a lawsuit in opposition to the Cayman Islands Monetary Authority, or CIMA, for denying its registration as a digital asset provider supplier (VASP) in the island nation. The crypto lender requested the court docket to overturn the monetary regulator’s decision because it modified into “factual” to present crypto companies and products to Cayman Islands residents.

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