According to a report by The Block, crypto lending platform Nexo will stop providing the lending product “Earn Interest Product (EIP)” to all U.S. customers (including citizens and residents) on April 1. Nexo reached a settlement with the U.S. Securities and Exchange Commission (SEC) last month and agreed to pay a $4.5 million fine to resolve charges brought by U.S. state regulators. Previously, the SEC had accused Nexo of issuing and selling EIP without registration, and Nexo began providing EIP services to U.S. customers in June 2020. Nexo requires all U.S. users to withdraw funds before April 1, and other services will not be affected. Accounts incorrectly flagged as US customers must update verification details by providing supporting documentation.