Nexo to Phase Out Crypto Products & Services from the U.S.: What You Need to Know

Major crypto lender Nexo will be leaving the United States over the next few months, as the company was unable to reach an agreement with the country's regulators. Today we are announcing the regrettable but necessary decision that Nexo will be phasing out its products and services in the United States in a gradual and orderly fashion.

The crypto borrowing and lending platform Nexo plans to gradually cease operations in the United States “over the coming months,” according to a blog post on Dec. 5. UK-based crypto lender Nexo said on Monday it would phase out its U.S. products and services over the coming months due to clashes with regulators.

Burdened by regulatory pressures, crypto lending firm Nexo has given up on continuing to operate within the United States. The company announced on Monday that it Crypto lender Nexo is immediately ending business in eight states and will leave the U.S. entirely in a gradual and orderly fashionbut all customers will be able to.

The company said it would from tomorrow discontinue its Earn Interest Product in eight states: Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin. The crypto lender announced that it would phase out its U.S. products as well as services in the next few months. The platform decided to take this drastic step as it was.

This announcement has significant implications for Nexo users in the U.S. Stay tuned for updates on how this transition will impact your accounts and crypto holdings. We will continue to provide in-depth analysis of the regulatory landscape and its effect on the crypto industry.