Crypto services firm Nexo is returning to the United States market more than three years after withdrawing operations amid regulatory disputes. Company confirmed it will relaunch its digital asset platform, citing improved clarity in the US regulatory environment.
Nexo US Expansion and Product Offerings
The revamped US platform will provide flexible and fixed term yield products, a spot crypto exchange, crypto-backed credit lines, and a loyalty program tailored for American clients. Trading infrastructure will be supported by Bakkt, a US based digital asset firm serving institutional customers.
According to company statements, certain services will operate through partnerships with licensed US providers, including a Securities and Exchange Commission registered investment adviser to ensure compliance with federal securities laws. The new US headquarters will be based in Florida, with a dedicated management team expected to oversee operations.
Background: 2022 Exit and SEC Settlement
Nexo exited the US market in December 2022 during heightened regulatory scrutiny under then-SEC leadership. Its interest-bearing “Crypto Earn” product became a focal point of enforcement actions, leading to a $45 million settlement with the SEC and an additional $22.5 million multistate agreement in early 2023.
The companys return comes as lawmakers debate comprehensive crypto legislation, including the proposed CLARITY Act, which seeks to define oversight responsibilities for digital assets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.