The regulator nabbed the crypto ATM operator turned exchange for securities law violations over its sales and statements of a crypto token.
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The regulator nabbed the crypto ATM operator turned exchange for securities law violations over its sales and statements of a crypto token.
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Kalin Metodiev emphasized that Nexo has been navigating through conversations with regulators for the past couple of years to ensure compliance, and was surprised that this news was “thrown out there in public.”
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The SEC alleged that some of the proceeds from the offering were used to give the founder a bonus of $1 million and a loan of $2.5 million which he used to purchase a house in the Cayman Islands.
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