{"id":551141,"date":"2023-02-13T03:59:39","date_gmt":"2023-02-13T00:59:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nexo-shutters-us-earn-product-a-month-after-settling-with-regulators\/"},"modified":"2023-02-13T03:59:39","modified_gmt":"2023-02-13T00:59:39","slug":"nexo-shutters-us-earn-product-a-month-after-settling-with-regulators","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nexo-shutters-us-earn-product-a-month-after-settling-with-regulators\/","title":{"rendered":"# Nexo shutters US Earn product a month after settling with regulators"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407b40c17ee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407b40c17ee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nexo-shutters-us-earn-product-a-month-after-settling-with-regulators\/#%E2%80%9D_Nexo_shutters_US_Earn_product_a_month_after_settling_with_regulators_%E2%80%9C\" >&#8221; Nexo shutters US Earn product a month after settling with regulators &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Nexo_shutters_US_Earn_product_a_month_after_settling_with_regulators_%E2%80%9C\"><\/span>&#8221; Nexo shutters US Earn product a month after settling with regulators &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvNmVmODNiOTgtNjQ4Ny00YmQwLWE0MWMtZWM1ZTMyMTI1MDc1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4bbf85c5>Cryptocurrency lending firm Nexo Capital is set to terminate its yield-bearing Earn Interest Product for its customers in the United States roughly a month after it agreed to pay $45 million in penalties to U.S. regulators.<\/p>\n<p>Nexo announced the termination in a Feb. 10 blog <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nexo.io\/blog\/update-for-us-clients\">post<\/a> saying the product would be stopped on Apr. 1. The program allowed users to earn daily compounding yields on certain cryptocurrencies by loaning them to Nexo.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">An update for our U.S. clients.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/wRiDOPKEqg\">https:\/\/t.co\/wRiDOPKEqg<\/a><\/p>\n<p>\u2014 Nexo (@Nexo) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nexo\/status\/1624551354009264128?ref_src=twsrc%5Etfw\">February 11, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Nexo pointed to its Jan. 19 settlements with the Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) as the reason for the halt on offering Earn.<\/p>\n<p>The SEC, NASAA and at least 17 state securities regulators investigated Nexo for failing to register the offer and sale of its Earn product.<\/p>\n<p>Nexo paid a $22.5 million penalty and agreed with the SEC to cease offers of its Earn product to U.S. investors, an additional $22.5 million in fines were paid to settle charges by state regulators.<\/p>\n<p>Nexo did not admit or deny the findings by the SEC but agreed to a cease-and-desist order prohibiting it from violating securities law provisions.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>US financial regulators warn against crypto exposure in retirement accounts<\/em><\/strong><\/p>\n<p>According to Nexo\u2019s announcement, Earn users will continue to receive interest payments until Apr. 1. Those subscribed to a fixed-term product will have it unlocked on the termination date with Nexo urging users to \u201cbegin planning the withdrawal of your funds.\u201d<\/p>\n<p>Other Nexo services and products will not be affected according to the firm.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nexo-shutters-us-earn-product-a-month-after-settling-with-regulators\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Nexo shutters US Earn product a month after settling with regulators &#8220; Cryptocurrency lending firm Nexo Capital is set to terminate its yield-bearing Earn Interest Product for its customers in the United States roughly a month after it agreed to pay $45 million in penalties to U.S. regulators. Nexo announced the termination in a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":551142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/6ef83b98-6487-4bd0-a41c-ec5e32125075.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[96150,138432,74898,117,72287],"class_list":["post-551141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-earn","tag-nexo","tag-sec","tag-business","tag-security"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=551141"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/551142"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=551141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=551141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=551141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}