California Fines Crypto Wealth Platform Nexo $500K Over ‘Unlicensed’ Loans – Decrypt
In brief The California Department of Financial Protection and Innovation found Nexo issued crypto-backed loans to at least 5,456 Californians without a license. Nexo reportedly failed to evaluate borrowers’ ability to repay, existing debt, or credit history before extending credit. The penalty comes as Nexo signals plans to re-enter the U.S. market after withdrawing in...
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
