Nexo is re-entering the US market after addressing regulatory challenges. Donald Trump Jr. spoke at the relaunch event.
Nexo's Return to the US Market
Nexo announced its return to the US market after leaving at the end of 2022 due to insufficient regulatory clarity. At the April 2023 event, Donald Trump Jr. stated that "crypto is the future of finance," emphasizing the need to bring the financial sector back to the US.
Regulatory Challenges and Solutions
Following its exit from the US, Nexo agreed to pay a $45 million settlement to the SEC over its failure to register its interest-earning product. Additionally, the company suspended this product, which had raised concerns among regulators.
Changes in SEC and Their Impact
With Paul Atkins appointed as chair of the SEC, the crypto industry expressed optimism regarding future regulations. Entrepreneurs hope for constructive engagement with regulators, which is believed to potentially alter the landscape for crypto projects in the US.
Nexo's return to the US highlights potential shifts in cryptocurrency regulation that may help restore investor and business trust in this sector.
