with the Securities and Exchange Commission and the North American Securities Administrators Association as the reason for the halt on offering Earn.
The SEC, NASAA and at least 17 state securities regulators investigated Nexo for failing to register the offer and sale of its Earn product. Nexo paid a $22.5 million penalty and agreed with the SEC to cease offers of its Earn product to U.S. investors, an additional $22.5 million in fines were paid to settle charges by state regulators.
Nexo did not admit or deny the findings by the SEC but agreed to a cease-and-desist order prohibiting it from violating securities law provisions.According to Nexo’s announcement, Earn users will continue to receive interest payments until Apr. 1. Those subscribed to a fixed-term product will have it unlocked on the termination date with Nexo urging users to “begin planning the withdrawal of your funds.
Nexo pointed to its Jan. 19 settlements with the Securities and Exchange Commission and the North American Securities Administrators Association as the reason for the halt on offering Earn.
College friends and a lot of altcoins.
Meanwhile congress is allowetp insider trade and hedge funds continue to rape the markets and retail investors but hey let's keep keep destroying the crypto space cause it threatens our control ove4 them. Fuckin crooks the more they push the more decentralized we'll move to.
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