Home Cryptocurrency Nexo fined $500,000 by California regulators over crypto-backed loans

Nexo fined $500,000 by California regulators over crypto-backed loans

California regulators have imposed a $500,000 fine on crypto lending firm Nexo Capital for issuing loans without properly assessing the borrower’s ability to repay. Between July 26, 2018, and Nov. 22, 2022, Nexo “offered consumer and commercial loans to at…

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