The year continues to be a troubled one for crypto lending platforms. Nexo – a UK-based crypto lender – is the latest one to hit the headlines. The company announced today that it will be bringing an end to its services in the United States over the coming months. The company cited the reason as failed talks with the United States regulatory bodies. In a press release, it said,
“Our decision comes after more than 18 months of good-faith dialogue with US state and federal regulators which has come to a dead end (…) Nexo has engaged in significant ongoing efforts to provide requested information and to proactively modify its business in response to their concerns.”
The story is still developing.