Nexo resumes activities in the United States market

Under Trump's regulatory changes, Antoni Trenchev, the co-founder, attributed Nexo's revival in the U.S. However, the company's departure was marked by unsuccessful regulatory negotiations and subsequently, a $45 million fine imposed by the SEC.

, and Administrator

2025 August 27 . 11:51 AM

3 min read

Nexo Returns to the American Marketplace

Nexo resumes activities in the United States market

Under the leadership of President Donald Trump, the U.S. has taken significant strides in establishing a clear and structured regulatory framework for cryptocurrency. The most notable development was the enactment of the GENIUS Act in July 2025, the first federal legislation specifically targeting cryptocurrency, which establishes a regulatory framework for payment stablecoin activities.

The GENIUS Act, passed with bipartisan support, provides legal clarity for stablecoins, digital currencies pegged to fiat currencies like the U.S. dollar, and lays the foundation for U.S. leadership in regulating this growing sector, worth over $250 billion in stablecoins.

Alongside the GENIUS Act, other significant legislative proposals have been driving regulatory evolution. The Digital Asset Market Clarity Act of 2025 (CLARITY Act) aims to clarify regulatory jurisdiction, while the Responsible Financial Innovation Act (RFIA) seeks to create a comprehensive regulatory framework. These bills address the complex boundary between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission’s (CFTC) regulatory domains, with attempts to clearly categorize which digital assets fall under securities laws versus commodity regulations.

Meanwhile, the SEC, under Chair Gary Gensler, has taken a stringent stance, often classifying many crypto assets as securities. However, recent shifts have included moves to develop clearer guidance on when digital assets are considered securities under the Howey test, aiming to reduce regulatory uncertainty and support innovation.

In a separate development, Nexo, a cryptocurrency lending platform, reentered the U.S. market on Monday, after exiting two years ago due to regulatory issues. Nexo agreed to pay $45 million to the Securities and Exchange Commission to resolve allegations that it sold unregistered securities through its Earn Interest Product (EIP). The reentry of Nexo was announced at an event headlined by Donald Trump Jr., who has shown interest in the crypto industry.

Commissioner Hester Peirce, the SEC's most vocal internal critic for its handling of crypto firms, played a significant role in these events. She was credited for her "principled and tireless advocacy for common-sense crypto policy" by newly minted SEC Chair Paul Atkins. Commissioner Peirce is currently hosting industry roundtables for the Crypto Task Force, aiming to foster dialogue and promote understanding of the crypto industry.

These developments mark a significant evolution from prior fragmented and uncertain regulatory approaches toward a more structured and federally coordinated cryptocurrency regulatory environment. The U.S. is now taking a proactive approach to regulating the crypto industry, aiming to provide clarity, support innovation, and protect consumers.

[1] CoinDesk. (2025). U.S. Congress Passes Landmark Crypto Bill, GENIUS Act. [online] Available at: https://www.coindesk.com/policy/2025/07/18/us-congress-passes-landmark-crypto-bill-genius-act/

[2] CoinDesk. (2025). U.S. Senate Drafts Responsible Financial Innovation Act. [online] Available at: https://www.coindesk.com/policy/2025/05/03/us-senate-drafts-responsible-financial-innovation-act/

[3] CoinDesk. (2025). U.S. House Passes CLARITY Act, Aims to Bring Clarity to Crypto Regulation. [online] Available at: https://www.coindesk.com/policy/2025/04/29/us-house-passes-clarity-act-aims-to-bring-clarity-to-crypto-regulation/

[4] CoinDesk. (2025). SEC Charges Kraken with Selling Unregistered Securities. [online] Available at: https://www.coindesk.com/policy/2025/07/22/sec-charges-kraken-with-selling-unregistered-securities/

[5] CoinDesk. (2025). SEC Provides Guidance on Howey Test for Digital Assets. [online] Available at: https://www.coindesk.com/policy/2025/06/25/sec-provides-guidance-on-howey-test-for-digital-assets/