January 20, 2023 - Nexo, a digital assets platform, announced that it has reached a final resolution with the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), consisting of all 50 U.S. States and three territories, the Attorney General of New York, the Texas Department of Banking, the Washington Consumers Services Division and the Alaska Division of Banking and Securities.
The announcement follows an SEC review which looked at various aspects of Nexo's business following their voluntary decision to stop offering its EIP in the U.S. and exit this market.
“We are content with this unified resolution which unequivocally puts an end to all speculations around Nexo’s relations to the United States. We can now focus on what we do best - build seamless financial solutions for our worldwide audience,” said Antoni Trenchev, Co-founder of Nexo.
“We thank the commissioners involved for their time, effort, and dedication in doing what they believe is in their constituents’ best interests and in line with the American values of transparency, financial freedom, and adherence to the highest professional and legal standards that have built this great nation and which Nexo deeply relates to. We are grateful to our legal advisors at Schulte Roth and Zabel LLP for facilitating a most constructive dialog with the U.S. federal and state regulators, as well as the New York Attorney General’s Office, which helped us secure this most favorable of outcomes,” said Trenchev.
Kosta Kantchev, Co-founder of Nexo, added: “We are confident that a clearer regulatory landscape will emerge soon, and companies like Nexo will be able to offer value-creating products in the United States in a compliant manner, and the U.S. will further solidify its position as the world’s engine of innovation.”
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