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California fines Nexo $500,000 for unlicensed crypto loans and orders customer fund transfer
On January 17 2026, California's financial regulator ordered Nexo to pay a $500,000 penalty for issuing more than 5,456 crypto-backed loans in the state without a license. The action requires the company to transfer California customer funds to a licensed U.S. affiliate within 150 days and has cast doubt on Nexo's plans to resume operations in the American market.