Nexo Stages Crypto Comeback—US Regulators Left Grinding Teeth
Defiant crypto lender Nexo punches back into the US market—just as the SEC starts warming up its enforcement printers. The Bulgaria-based firm, which previously exited stateside operations amid regulatory pressure, now claims to have ’re-engineered compliance’ for its return.
Subheader: Regulatory Roulette or Calculated Bet?
Nexo’s move comes as US crypto firms face mounting scrutiny—and just months after paying $45 million to settle charges with the SEC and state regulators. The relaunch features a pared-down product suite, conspicuously avoiding offerings that might trigger another regulatory tantrum.
Subheader: Banking on Bullish Sentiment
The timing isn’t subtle: with Bitcoin flirting with all-time highs and institutional FOMO building, Nexo’s betting that American crypto investors will overlook past stumbles. Because nothing says ’trustworthy’ like a company that previously had to cut and run from US regulators—only to return when the market’s drunk on hopium.
Optimism and Support for Crypto Innovation
According to an April 28 press release shared with CryptoPotato, supported by $11 billion in assets under management, the company’s return to the U.S. comes amid renewed Optimism and entrepreneurial momentum.
The crypto lender will offer American retail and institutional clients access to its products, including high-yield crypto savings accounts, asset-backed credit lines, advanced trading options, and institutional-grade liquidity solutions.
Nexo Co-Founder Antoni Trenchev officially confirmed the company’s relaunch in the country, “America is back — and so is Nexo.” He credited the vision and leadership of President Donald J. Trump, his administration, and his family for creating an environment where innovation is encouraged. “Nexo is returning to America — stronger, smarter, and determined to win,” he added.
Donald Trump Jr. spoke on the importance of cryptocurrencies for the United States, emphasizing their role in maintaining the country’s economic leadership and technological advancement.
“I think crypto is the future of finance,” said the president’s son. “We see the opportunity for the financial sector and want to ensure we bring that back to the U.S.,” he continued.
He added that establishing a supportive regulatory framework would be crucial to empowering entrepreneurs and ensuring the nation’s competitiveness in the digital economy, emphasizing, “The key to everything crypto is going to be the regulatory framework.”
The event, headlined by Donald Trump Jr. and Gila Gamliel, gathered prominent members of the global business community and leading figures from the investment and innovation sectors.
Regulatory Challenges That Led To the Exit
Nexo’s re-entry follows a challenging period marked by its gradual withdrawal from the U.S. market in December 2022. At that time, the firm cited regulatory uncertainty and conflicting guidance between state and federal authorities as the primary reasons for its exit.
Despite engaging in over 18 months of discussions with regulators, the crypto lender struggled to find a solution to its problems. Efforts to comply included off-boarding clients from New York and Vermont and suspending new registrations for its Earn Interest Product in several states. Ultimately, inconsistent regulatory positions and a prolonged investigation by the Consumer Financial Protection Bureau (CFPB) forced Nexo to stop its American operations.
The company’s return follows a similar move by OKX, which announced less than two weeks ago that it is reopening its U.S. crypto exchange and launching a new Web3 wallet for the nation’s users.
