Crypto lender Nexo announced that it has suspended its Earn Interest Product (EIP) for all U.S. clients, residents, and citizens, effective February 10, 2023.
This move comes after the lender was fined $22.5 million by the U.S. Securities and Exchange Commission (SEC) for failing to register the offer and sale of EIP.
Nexo’s decision to halt EIP is a result of the company’s ongoing efforts to ensure that it is in full compliance with all relevant regulations and laws.
Despite this suspension, Nexo’s other lending offerings will continue as normal and its clients can still earn the same interest as they would with EIP until April 1, 2023.
The suspension of EIP for U.S. clients is a temporary measure, and Nexo is working diligently to resolve the issue and bring back the EIP for its American customers as soon as possible.
In the meantime, Nexo’s other lending offerings will continue to provide U.S. clients with the same high-quality services and products that they have come to expect from the company.
Nexo’s commitment to its clients remains unwavering, and the company is confident that it will resolve the issue with EIP and bring it back for its U.S. clients in the near future.
For more information on Nexo’s suspension of EIP for U.S. clients, residents, and citizens, or to learn more about the company’s other lending offerings, visit their official website today.