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Crypto lender Nexo to exit the U.S. market, citing a lack of regulatory clarity

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Nexo crypto cryptocurrency cryptolending Crypto lender Nexo to exit the U.S. market, citing a lack of regulatory clarity

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The first part of the company's drawdown will begin on Dec. 6, when users in the states of Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington will have access to the platform’s “Earn Interest Product” removed. This revelation from Nexo comes as many of the leading crypto lending platforms in the U.S. – including Celsius, BlockFi and Voyager – have declared bankruptcy following the collapse of Terra/Luna and FTX.

The crypto lender also noted that there seems to be a fair amount of disagreement between the different regulatory bodies in the U.S. which has led to recommendations that have contradicted each other.

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