The crypto lending platform Nexo has been ordered by several California securities regulators to halt its crypto yield product. The state claims that the company’s interest-bearing accounts qualify as unregistered securities that require proper disclosures and legal protections. The enforcement action was announced by the California Department of Financial Protection and Innovation (DFPI) on Monday. The Department said its action was part of a larger investigation of companies offering crypto interest accounts.” “The DFPI has undertaken aggressive enforcement efforts against…
Tag: The US SEC Says Poloniex
The US SEC Says Poloniex Operated Illegally, The Exchange Pays $10.4 Million Fine
On 9th August, The US Securities and Exchange commissions announced that it's charging the Poloniex crypto exchange for conducting illegal operations. Immediately, the Poloniex network agreed to settle the amount of $10.4 million in fine. Recently, the US has been very focused on the regulatory front, and there is a bill to regulate crypto vastly. Poloniex Operated Illegally According to a release posted on the SEC page, the watchdog charged Poloniex with illegal exchange activities within the country. The release…
1 year ago 
315
views