(2023)
SEC v. Nexo
Year
2023
Criminal or Civil
Civil
Year Resolved
2023
Jurisdiction (Court/State)
SEC Administrative Proceeding (Federal)
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
$45 million ($22.5M to SEC + $22.5M to state regulators)
Lawsuit Overview
The SEC charged Nexo Capital Inc. for the unregistered offer and sale of its Earn Interest Product (EIP), a crypto lending program marketed to U.S. investors. The EIP was deemed a security, and Nexo failed to register it or qualify for an exemption. Nexo agreed to settle the charges by paying a total of $45 million in penalties and ceasing all related activity in the U.S.
Category
Unregistered Securities Offering / Crypto Lending
Notable Individuals Involved
No individuals charged; case focused on Nexo Capital Inc.
Investor Loss Estimate
Not explicitly stated; no fraud or misappropriation alleged, only registration failure
Final Outcome
Settled; Nexo ceased EIP in the U.S. and paid penalties
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