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Eight states sue crypto lender Nexo over security sales and misleading marketing
Sept. 27, 2022, 12:45 a.m. | Mitchell Clark
The Verge - All Posts www.theverge.com
Illustration by Alex Castro / The Verge
New York Attorney General Letitia James is suing crypto company Nexo, alleging that the company misled customers by saying it was registered to sell securities and commodities and that it wasn’t approved to offer services like its “Earn Interest Product” that promised returns on deposited crypto. It’s the latest legal move in a fight between regulators and crypto companies looking to offer interest-earning accounts, often insisting that they shouldn’t be classified as securities. …
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