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Amin Ayan

California DFPI fines Nexo $500,000 and orders fund transfer in 150 days

On January 14, 2026, California's Department of Financial Protection and Innovation fined Nexo $500,000 for issuing unlicensed crypto-backed loans. The agency found at least 5,456 residents received loans without a state license and ordered all California customer funds moved to a licensed U.S. affiliate within 150 days.
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