SEC Cracks Down on Nexo for Unregistered Crypto Lending

• SEC charged Nexo Capital Inc. for failing to register the offer and sale of EIP.
• Nexo agreed to pay a $22.5 million penalty and stay its unregistered offer and sale of the EIP.
• Participants of the crypto physique of workers retaliated in opposition to the actions of the SEC.

The US Securities and Alternate Fee (SEC) charged Nexo Capital Inc. for failing to register the offer and sale of its retail crypto asset lending product, the Originate Passion Product (EIP). Admitting to their mistakes, Nexo agreed to pay a $22.5 million penalty and stay its unregistered offer and sale of the EIP to U.S. traders.

This day we charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Originate Passion Product (EIP). To resolve prices, Nexo agreed to pay $22.5 million and stay its unregistered offer and sale of the EIP to U.S. traders.— U.S. Securities and Alternate Fee (@SECGov) January 19, 2023

According to an SEC …

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