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

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buterin’s one-stop solution to survive in the crypto market is all you need to knowVitalik Buterin prioritizes technology over price watching to have a long run in the crypto market Crypto market has lost at least $2.9 billion to crypto scams in 2022 The Ethereum [ETH] co-founder Vitalik Buterin advised weary crypto investors to focus on technology instead of price watching and trading. Buterin shared this advice with a […]
Source: CryptoAmb - 🏆 22. / 68 Read more »