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Crypto Lending Platform Nexo To Exit US Market
Summary: Cryptocurrency lender Nexo announced Monday that it will phase out its products and services in the United States in an orderly manner over the next few months. Effective December 6, 2022, Nexo Earn Interest Product will no longer be available to existing customers in eight U.S. states（Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and ...
Cryptocurrency lender Nexo announced Monday that it will phase out its products and services in the United States in an orderly manner over the next few months.
Effective December 6, 2022, Nexo Earn Interest Product will no longer be available to existing customers in eight U.S. states（Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington）, and no new U.S. customers will be signed up to use the Earn Product.
Nexo said it had been in talks with U.S. state and federal regulators but those talks had reached a "dead end," but gave no details about those discussions or a firm timeline for its withdrawal from the U.S. market.
As BitpushNews previously reported, crypto lending platforms BlockFi, Celsius, and Voyager have declared bankruptcy in the past few months.
By Mary Liu
