Multistate Lawsuit Resolved by Nexo Crypto Lender with $22.5M Settlement

Multistate Lawsuit Resolved by Nexo Crypto Lender with $22.5M Settlement

Once the Ohio Division of Securities joined the settlement as the newest state regulator, the cryptocurrency lender Nexo reached a deal with numerous US states for $22.5 million.

The business, which is run by Bulgarian entrepreneur Kosta Kantchev, will pay $424,528.30 to each of the states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands that have ratified the settlement.

The entire settlement for the crypto loan and savings company is $22.5 million.

The Securities Commissioner for Ohio, Andrea Seidt, stated in a news statement on Tuesday that all businesses dealing with digital assets must adhere to Ohio securities rules.

Commissioner Seidt stated, “We will continue to protect Ohioans’ interests and make sure that firms operating here obey our securities rules in collaboration with NASAA and other state securities regulators.

The press announcement also said that starting April 1st of this year, Nexo has promised to stop paying interest on all active EIP accounts. The EIP must be “properly qualified for sale in Ohio” in order to constitute an exemption.

 

 

Moonbase

Moonbase

An affordable web3 equivalent of Bloomberg or Moody’s

Moonrig BUIDL

Moonrig BUIDL

A wizard that guides users from risk assessment through to model portfolios

Moonrig CROWD

Moonrig Crowd

Early-stage web3 crypto investment platform where investors attain equity + tokens

Moonrig CONNECT

Moonrig Connect

Balance crypto & other assets, tailor investments to your liabilities for a unified financial strategy

Moonrig HODL

Moonrig HODL

Consolidated views of all your digital assets from any exchange or wallet

Moonrig AIRDROP

Moonrig AIRDROP

Receive free crypto tokens from new and upcoming crypto project airdrops

Moonrig Whitepaper

DOCS

Get access to moonrig information in a whitepaper format

Moonrig Litepaper

LITEPAPER

Snackable version of our pitch deck for quick & easy reading

Contact Us