Ohio Securities agrees to settlement with lending platform Nexo

The Ohio Department of Securities has agreed to a settlement with lending platform Nexo. Previously, Nexo agreed to pay $22.5 million to resolve charges with Ohio and other U.S. states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands ($424,528.30 to each jurisdiction) for failing to comply with state securities registration requirements. Previously, Nexo had agreed to pay a fine of US$22.5 million on January 19, and stopped issuing and selling Earn, an unregistered lending product to US investors, on April 1 to settle charges against it by the US SEC. Nexo owes state regulators and the SEC $45 million in total.