By Adrianne Appel2023-01-20T19:54:00
Nexo Capital agreed to pay a total of $45 million in penalties to settle state and federal charges it failed to register its crypto asset lending product as a security.
The settlements, announced Thursday by the Securities and Exchange Commission (SEC) and North American Securities Administrators Association (NASAA), each included fines of $22.5 million. Nexo also agreed to cease the offering and sale of its lending product.
Nexo, founded in 2018 and incorporated in the Cayman Islands, specializes in lending products linked to cryptocurrency. According to the SEC’s order, Nexo marketed its Earn Interest Product (EIP) to U.S. investors starting in or around June 2020 with the promise it would earn interest for investors who loaned their cryptocurrency to Nexo.
2023-09-08T19:33:00Z By Jeff Dale
Linus Financial avoided a civil penalty in reaching settlement with the Securities and Exchange Commission over its alleged failure to register the offer and sale of its crypto lending product.
2023-02-09T22:27:00Z By Aaron Nicodemus
The Securities and Exchange Commission slapped $30 million in penalties and fees on cryptocurrency exchange Kraken, part of the agency’s ongoing pushback against unregistered crypto products.
2023-01-13T17:21:00Z By Aaron Nicodemus
The Securities and Exchange Commission accused two cryptocurrency firms, Genesis Global Capital and Gemini Trust Company, with selling a crypto lending product to investors as an unregistered security.
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Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
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Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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