Vauld applied in Singapore for protection from creditors in July and signed an initial agreement with Nexo the same month. Nexo, however, said talks are still taking place.
Crypto lender Nexo said it would stop offering products and services in the U.S. in the coming months as their discussions with both state and federal regulators had come to a "dead end." CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De weighs in.
California, New York and six other states are suing cryptocurrency lending platform Nexo for allegedly offering unregistered securities in the form of accounts that pay interest for cryptocurrency deposits, the states said in statements on Monday. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the developments.