@pmeneses1@attorneyjeremy1 Agreed. And did so under the guise of being 'SEC-compliant'. Pull the other one, NEXO. I can't wait to see what comes out of this mega-raid in Bulgaria. Funny, I would have thought they'd bought off everyone that mattered in their home country. A bit refreshing, actually!
The SEC charges NEXO for its "lending product," and settles with them the same day. A $45 million collection.
But isn't NEXO an exchange? What about the numerous "securities" that NEXO is unlawfully selling to U.S. citizens? That's okay now?? I'm confused.
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Given that California and NY are pursuing action here, this is actually something to watch. Their determinations on the taxonomy of certain lending offerings could have outsized influence on the market similar to federal decisions given the economic weight they wield.
I'm suing crypto platform @Nexo for illegally failing to register with my office and lying about it to investors.
Instead of misleading New Yorkers about its compliance with the law, crypto platforms must register to operate just like other investment platforms.