News Explorer — Nexo Fined $500,000 for Unlicensed Loans in California

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Jan 16, 5:01 am

Decrypt

Nexo Fined $500,000 for Unlicensed Loans in California

Nexo has been fined $500,000 by California regulators for issuing unlicensed loans to over 5,000 state residents, leading to regulatory troubles in the U.S. The firm must transfer funds of California residents to a licensed U.S. affiliate within 150 days.

Nexo has been fined $500,000 by California regulators for issuing unlicensed loans to over 5,000 state residents, leading to regulatory troubles in the U.S. The firm must transfer funds of California residents to a licensed U.S. affiliate within 150 days.

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