The watchdog of “the Buckeye State” issued a consent order against Nexo, thus joining other US states that claimed the cryptocurrency firm violated some rules when offering Earn Interest Products (EIP). The company promoted its option via social media channels and on its website to US consumers, saying they could obtain returns as high as 36%. 

The North American Securities Administrators Association (NASAA) and the SEC insisted that Nexo did not disclose vital information about the products and failed to outline the risks for investors. There were over 2,300 Ohio residents who joined the program as of the end of July 2022 and collectively distributed more than $15 million. Nexo had 93,318 EIP investors in the US who allocated approximately $800 million.