12/5/2022, 7:16 PM (Source: TeleTrader)
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Nexo announces gradual withdrawal from US

Crypto platform Nexo confirmed on Monday it would be winding down its services in the United States over the upcoming months until a complete departure after over a year and a half of dialogue with federal regulators.

"It is now unfortunately clear to us that despite rhetoric to the contrary, the US refuses to provide a path forward for enabling blockchain businesses, and we cannot give our customers confidence that regulators are focused on their best interests," the platform argued in a statement posted on its website.

Starting tomorrow, Nexo's clients in Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington, won't have access to the Earn Interest Product anymore. London-based Nexo is known for providing financial services in the world of digital assets, managing investments of over 5 million users worldwide.

Baha Breaking News (BBN) / ND