New York State has joined a lawsuit filed against a cryptocurrency investment firm.
The state’s Attorney General’s Office announced that it joined seven other state regulators in a lawsuit against Nexo Incorporated and Nexo Capital.
The suit alleges that the firm failed to register with the state as a securities and commodities broker. They also claim the entities lied to investors about their status.
Around 10,000 New Yorkers have accounts with Nexo.
The lawsuit has been filed with the State Supreme Court, and seeks restitution for investors.
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