Crypto lender Nexo to quit United States

0
4
By Elizabeth Howcroft LONDON (Reuters) – 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. “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 said in a blog post on Monday. Crypto lenders act like banks for the crypto world, offering customers interest on cryptocurrencies they deposit with the platform. The firms grew rapidly during the COVID-19 pandemic, but as crypto markets slumped earlier this year vario…