“New top-ups to your savings wallet, as of today, will not earn interest until the restructuring of the earn interest product,” crypto lender Nexo told US customers.
, U.S.-based Nexo customers will be seeing some new changes in regard to the Nexo savings program that bears interest. Nexo Josh explained that the company has “voluntarily implemented changes” to its earn interest product in the United States in order to “comply with newly-announced guidance.”
Nexo’s representative noted that non-U.S. clients are “not subject to the SEC’s guidance and remain unaffected.” Existing U.S. clients will keep earning on the balances they hold, however, Americans cannot earn interest on newly added balances. “New top-ups to your [Nexo] savings wallet, as of today, will not earn interest until the restructuring of the earn interest product,” the message from Nexo Josh said. Furthermore, the representative stressed that “any assets withdrawn from your savings wallet, even if returned later, will be treated as new top-ups and will not earn you interest.”As far as new U.S.-based Nexo clients are concerned, the earn interest product will not exist in its current form.
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