Following a settlement with the U.S. Securities and Exchange Commission announced last month, crypto lending platform Nexo will stop its Earn Interest Product for all U.S. clients, which include both citizens and residents, on April 1.

"We ask that you begin planning the withdrawal of your funds at a convenient time by this date," the company said in a blog post, adding that no other Nexo services will be affected. Clients with outstanding credit will be given "ample time and notice" to repay loans and withdraw collateralized assets.

Non-U.S. clients who believe their accounts have been wrongfully flagged must update verification details by providing documents such as bank statements or utility bills.