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Nexo joins Sanctions Association as Regulatory Scrutiny Increases

Cryptocurrency lending platform Nexo has joined the association of certified sanctions specialists (ACSS) to enhance its compliance measures. The ACSS offers training and certification for sanctions professionals across various industries, and its certification is universal, covering policy, due diligence, screening, compliance, and investigations. Nexo's compliance staff will now be required to be ACSS certified, adding another level of credibility to its team. The move comes after Nexo acquired an American Institute of Certified Public Accountants (AICPA) certificate and completed a Service and Organization Controls (SOC) 2 Type 2 Compliance audit. Nexo had previously terminated its yield-bearing Earn Interest product in the United States after paying $45 million in penalties to the Securities and Exchange Commission and the North American Securities Administrators Association.

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