The CryptoCurrency Services Platform announced that it was a repair of the US market after facing previous regulation challenges.
According to an announcement on April 28, Nexo’s reentry event featured Donald Trump Jr., who said he thinks “Crypto is the future of finance,” adding:
“We see the opportunity for the financial sector and want to make sure we bring it back to the US.”
Trump Jr. also emphasized the need for a regulatory environment that supports the cryptocurrency industry. He said “the key to all crypto will be the framework of regulation.”
Related: Coinbase insists on AX Rule prohibiting SEC staff from crypto handling
Nexo returned to fight where it lost
Nexo left the US by the end of 2022, cites a lack of regulatory clarity as a cause Behind the decision. At the beginning of 2023, the company went up Pay $ 45 million negotiating to the US Securities and Exchange Commission (SEC) for its failure to register the offer and sale of interest product security.
One month after repairing US regulators, Nexo also decided to close the product that earned interest to US -based customers. The product allowed users to earn a day -to -day combination of produce with some cryptocurrencies by loaning them to Nexo.
In late 2022, the California Department of Financial Protection and Innovation also filed a desist and prevent the order against the same product that earns interest that Nexo manages. The regulator claimed that the product was an unqualified security, which means a security that was not approved by the government for sale in the form of an investment contract.
Related: US crypto rules like ‘Floor Is Lava’ game without light – hester Peirce
US SEC is dancing in a different tone today
US SEC, once viewed as a major barrier to the crypto industry regulation, Paul Atkins was recently appointed as a seat.
The change is Positively commented with Crypto entrepreneursWith Michael Saylor, the CEO of the Top Corporate Bitcoin Holder Strategy (formerly microstrategy), stating:
“SEC chairman Paul Atkins will be good for Bitcoin.”
James Gernetzke, Chief Financial Officer of Bitcoin and Crypto Wallet Exodo, said That “the promise of contacting a regulator on a reasonable basis will be the benefit.”
Nexo refused to comment on its return to the US market.
Magazine: Ripple said the SEC ‘over,’ Trump’s DAS, and more: Hodler’s Digest, March 16 – 22
