Nexo is relaunching its digital asset services and crypto exchange platform in the US after over three years, offering yield programs, a spot exchange, credit lines, and a loyalty program. The platform will partner with Bakkt for trading infrastructure and will be based in Florida with a new management team.

Exiting the US in 2022 due to regulatory uncertainty under Gensler, Nexo cited a lack of clarity for blockchain businesses. The company engaged in conversations with regulators for 18 months before deciding to leave the US. Nexo settled with the SEC for $45 million over its interest-bearing crypto program and shut down its Crypto Earn program.

Nexo’s reentry into the US market coincides with Washington’s efforts to pass a bill defining how regulators will oversee crypto. The CLARITY Act, passed by the House in July, has stalled in the Senate Banking Committee. White House crypto adviser Patrick Witt urges compromise for passage before the midterm elections. A meeting on stablecoin provisions remains inconclusive.

Read more at Cointelegraph: Nexo Relaunches Crypto Platform in the United States