Nexo, a cryptocurrency lender, has announced that it will discontinue its Earn Interest Product (EIP) for all U.S. clients, residents, and citizens in April. Nexo’s decision comes after the lender was fined $22.5 million by the Securities and Exchange Commission (SEC) last month for failing to register the offer and sale of EIP. The company also stated at the time that it is discontinuing EIP in eight states and has ceased onboarding clients in the United States. However, Nexo also stated that its other lending offerings will continue as usual, with clients earning the same interest as EIP until April 1, 2023.
