Nexo withdraws from the US market

UK-based cryptocurrency lender Nexo is exiting the US market due to problems with US regulators.

According to Reuters, Nexo will phase out its services in the US market over the next 18 months.

“Our decision comes after 18 months of discussions with the US federal government and federal regulators that have come to an end,” Nexo said in a statement.

The company cites ambiguities between the US federal government and the country’s state authorities, arguing that “unfortunately, the US refuses to provide a clear path for operating businesses on the blockchain”.

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