Nexo, a UK-based cryptocurrency lender, announced on Monday that it would phase out its US products and services in the coming months due to regulatory disagreements. “Our decision follows more than 18 months of good-faith dialogue with US state and federal regulators that has come to a halt,” Nexo wrote in a blog post on Monday. Crypto lenders function similarly to banks in the crypto world, providing customers with interest on cryptocurrencies deposited with the platform. Nexo was charged in September by eight state regulators in the United States for allegedly failing to register its Earn Interest Product. Nexo has stated that it will continue to process customer withdrawals “in real-time” as it exits the United States.