NY-AG v. Nexo

Nexo failed to register with the state as securities and commodities brokers or dealers and for lying to investors about their registration status, according to NY-AG. Nexo allegedly promoted and sold securities in the form of an interest-bearing virtual currency account called the Earn Interest Product with promises of high returns for participating investors, while failing to register as a securities broker or dealer as required by state law. Nexo allegedly engaged in the unregistered purchase and sale of securities and commodities through its virtual currency trading platform called the Nexo Exchange, and misled investors by falsely representing that it was in compliance with applicable laws and regulations.

Summary generated from official New York Attorney General press release