Crypto lending platform Nexo announced it will stop its Earn Interest Product for all US clients on April 1st. US clients should begin planning the withdrawal of their funds at a convenient time by this date.
Last December, Nexo announced that it would be phasing out its products and services in the US in a gradual and orderly fashion over the coming months. In January, Nexo reached a settlement with multiple institutions, including the US Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) and others, to pay a $45m fine and stop offering its lending product Earn Interest.