The Securities and Exchange Commission (SEC) of the United States charged cryptocurrency lender Nexo with failing to register the offer and sale of its Earn Interest Product (EIP). Nexo has agreed to pay the SEC a $22.5 million fine and another $22.5 million to settle similar charges brought by state regulators. The SEC noted in its agreement to the settlement Nexo’s decision in December 2022 to voluntarily halt access to its EIP in eight states and stop signing up new U.S. customers. Nexo had previously off-boarded clients in two other states. Nexo is also being investigated by Bulgarian authorities on suspicion of money laundering, tax evasion, unlicensed banking, and computer fraud, according to a report last week.