Crypto Lender Nexo Set to Reopen Operations in the US Amid Regulatory Changes
After a two-year hiatus, crypto lender Nexo has announced its plans to resume operations in the United States. The decision comes as the country has shown a more welcoming attitude towards digital assets, signaling a positive shift in regulatory dynamics.
In a recent statement shared on social media platform X, Nexo expressed its intention to reengage with American customers and provide them with its full suite of products in a supportive environment. The company’s co-founder Antoni Trenchev emphasized the renewed optimism and entrepreneurial spirit driving this strategic move.
Despite the absence of an official launch date, the announcement marks a significant milestone for Nexo, which had to cease its US operations and pay a hefty $45 million fine to the U.S. Securities and Exchange Commission (SEC) in 2023. The penalty was imposed following allegations of operating an unregistered crypto asset lending product known as the Earn Interest Product (EIP).
According to a report by Reuters, Nexo unveiled its comeback plan during a crypto conference in Bulgaria, where Donald Trump Jr., the eldest son of former US President Donald Trump, was a featured speaker. The event, titled “Trump Business Vision 2025,” served as a platform for Nexo to showcase its commitment to reestablishing its presence in the US market.
Trenchev mentioned that Nexo is currently engaged in constructive discussions with the SEC and other regulatory bodies in the US, with plans to relaunch its services in the coming months. While Trump Jr.’s involvement in the event was not directly linked to Nexo’s return, his advocacy for the importance of crypto in the US has set a positive tone for the company’s reentry.
The Trump administration had previously demonstrated a growing interest in digital assets, evidenced by the creation of a strategic Bitcoin (BTC) and crypto reserve through an executive order. This regulatory momentum has paved the way for companies like Nexo to navigate the evolving landscape of the US crypto market.
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