The firm cites growing legislative momentum and clearer rules as key factors for re-entering the U.S. market after a multi-year exit.
Nexo, a major global crypto lender, is re-entering the U.S. market after withdrawing in 2022 due to regulatory uncertainty. The move follows a shift in Washington’s approach to crypto oversight, with pending legislation like the GENIUS Act and Clarity Act signaling potential rulemaking progress.
The firm previously exited the U.S. post-FTX amid SEC enforcement actions and legal challenges. Nexo’s COO Neil Steinhardt noted the change in sentiment, suggesting regulators may soon codify crypto rules, reducing reliance on enforcement-driven governance.
Nexo’s return reflects broader industry optimism as crypto integrates with traditional finance. Steinhardt, a former payments executive, emphasized the timing aligns with growing institutional adoption and regulatory clarity.