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As interest in cryptocurrencies rises in the United States, fintech company Nexo has announced its intention to resume services in the country, previously halted two years ago due to regulatory issues. The company declared via social media platform X that it aims to offer its full range of products to American customers once more.
The Comeback of Nexo Coin
As Nexo, the company behind Nexo Coin, plans its re-entry into the U.S. market, the company expressed that a positive atmosphere has emerged to re-engage with customers. As stated in a social media message, “Nexo is returning to the American market. We are embracing renewed optimism and entrepreneurial momentum to offer our full products to American customers in a supportive environment.”
Despite these optimistic announcements, no specific date was provided for when operations would resume. However, the price of the altcoin surged from $1 to double-digit growth, suggesting that the positive trend could continue as plans firm up.
Legal Process and Regulatory Communication
This move comes after the company faced a $45 million penalty in 2023, accused by the U.S. Securities and Exchange Commission (SEC) of operating an unregistered crypto asset lending product. Nexo executives conveyed that they had constructive discussions with U.S. regulators and expect greater clarity in the future.
In an interview with Reuters, Antoni Trenchev, one of Nexo’s founders, stated that the company plans to return to the U.S. in the coming months. This announcement was made at the “Trump Business Vision 2025” conference in Bulgaria, increasing awareness of the importance of crypto assets in the national economy.
The presence of U.S. President Donald Trump’s eldest son at the conference underscored the role of digital assets in the economic landscape. This development is considered as part of Nexo’s strategy to bolster its international market presence.
Within the context of U.S. administration’s moves to support crypto assets, shifts in economic strategies focusing on crypto-oriented products are becoming apparent. Analysts are evaluating Nexo’s market re-entry strategy amidst current economic fluctuations and regulatory improvements.
Nexo’s initiatives could potentially serve as a model for other players in the digital asset sector.
