Nexo announced a set of policy changes for US customers, a move that comes as the Securities and Exchange Commission scrutinizes products and services in the crypto lending sector.
, the policy changes affect both existing accounts as well as new ones, with the firm saying it"voluntarily implemented changes to its Earn Interest Product in the U.S. to comply with newly-announced guidance."
"Top-ups to your Nexo Wallets made after today will not earn interest until the restructuring of the Earn Interest Product and the registration process with the relevant regulatory bodies are complete, as per the recently received guidance. Once complete, all new accounts will be transferred to the Earn Interest Product 2.0 and the new top-ups will earn interest.
"The current changes only affect Nexo’s Earn Interest Product in the U.S. and have no impact on any other Nexo products," the statement continued."Non-U.S. clients are are not subject to the SEC’s guidance and remain unaffected by any of these changes."
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