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Nexo to pay $500K fine to California regulator over ‘risky loans’
📰 sources⭐ 9.0
TL;DR:
California’s finance watchdog claims Nexo made nearly 5,500 loans to Californians without a valid license and did not properly assess their ability to repay.
Key Points:
Background:
Cryptocurrency markets continue to evolve with new developments affecting the broader digital asset ecosystem.
Why It Matters:
This development contributes to the ongoing evolution of the cryptocurrency ecosystem and may influence market trends.