The US Suspends the Investigation against Nexo, the Company reached a Historic Settlement

Nexo has agreed to pay $45 million to US regulators and will cease unregistered offering of crypto products, reported the United States Securities and Exchange Commission, as quoted by BNT.

Nexo has reached a definitive settlement with the US Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), consisting of all 50 US states and three territories, the New York Attorney General (NYAG), The Texas Department of Banking, the Alaska Division of Banking and Securities, and the Washington Division of Consumer Services, the company said.

There have been no allegations by US federal regulators that Nexo has engaged in fraudulent or deceptive business practices, or that Nexo's customers have been harmed or misled about the company's financial condition. It also ends all proceedings against the company in eight US states, which are all administrative in nature.

The only finding by state regulators of non-compliance with legal requirements by the company is in relation to a lack of the necessary registration for a US offering of Nexo's interest-bearing product accepted as securities.

With this, US regulators have concluded their comprehensive inspections of Nexo's activities concerning the company's business.

"We are extremely pleased with this comprehensive and final decision, which unequivocally puts an end to all speculative allegations regarding Nexo's relationship with US regulators and institutions. Unfortunately, even Bulgarian state bodies and institutions did not take heed and continue to abuse the American name, and the reactions in connection with these ugly actions of creating an alibi are yet to come. The clumsy insinuations of an 'international' element in the actions...