Emre Yumlu 
The cryptocurrency platform Nexo has officially announced its return to the United States, following past regulatory hurdles. An exclusive event held on April 28 marked the occasion, featuring the presence of Donald Trump Jr..
During his speech, Trump Jr. highlighted his belief that “crypto is the future of finance,” and added:
“We recognize a major opportunity in the financial sector and are committed to bringing that innovation back to the US.”
He also stressed the importance of establishing a supportive regulatory framework for the cryptocurrency industry, noting, “The success of crypto largely depends on the regulatory structure that governs it.”
Nexo Resumes Its Fight in the US
Back in late 2022, Nexo exited the American market, citing a lack of clear regulatory guidance as the main reason. In early 2023, the company reached a $45 million settlement with the US Securities and Exchange Commission (SEC) over allegations that it failed to properly register its interest-earning crypto product.
Following the settlement, Nexo chose to discontinue its yield-generating service for US-based customers. This product had allowed users to earn daily compounded returns by lending select cryptocurrencies to the platform.
At the same time, the California Department of Financial Protection and Innovation issued a cease and desist order against Nexo, labeling the interest-earning product as an unlicensed security offered without proper approval.
A New Era for Crypto Regulation in the US
Historically seen as a barrier to the crypto industry, the SEC is now signaling a different approach with the appointment of Paul Atkins as its new chair.
This leadership change was met with enthusiasm in the crypto community. Michael Saylor, CEO of the corporate Bitcoin holder Strategy, commented:
“Paul Atkins’ leadership at the SEC will be a positive force for Bitcoin.”
Similarly, James Gernetzke, CFO at the crypto wallet provider Exodus, remarked, “Being able to engage constructively with regulators will greatly benefit the industry.”
Meanwhile, Nexo has declined to provide further details regarding its reentry into the US market.
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