Nexo to Pay $500K Fine to California Regulator Over ‘Risky Loans’
California’s Department of Financial Protection and Innovation (DFPI) fined Nexo Capital Inc. $500,000 after concluding the lender made unlicensed crypto-backed loans to California residents and skipped basic repayment checks. The enforcement action adds near-term regulatory friction to Nexo’s stated ambition to re-enter the U.S. market.