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[aryan4]

A lawsuit was filed against the Nexo company, which provides cryptocurrency loan services, alleging that it caused $ 5 million in damage by suspending XRP payments without legal grounds in the last month of 2020.
By doing this, the company, which is claimed to have damaged customers, is asked to pay the damages and the court to determine a rate on this issue.
Could this lawsuit be an example for other companies to be sued in the future?

 

[SCAMEXPOSER]

A lawsuit was filed against the Nexo company, which provides cryptocurrency loan services, alleging that it caused $ 5 million in damage by suspending XRP payments without legal grounds in the last month of 2020.
By doing this, the company, which is claimed to have damaged customers, is asked to pay the damages and the court to determine a rate on this issue.
Could this lawsuit be an example for other companies to be sued in the future?

What I don't seem to understand is that does it mean that the subscribers were to decide to delist or not on the platform or the admin of the site?

 

[highspeed]

I'm sorry, you mean Nexo, company as a crypto-based lending platform, I suppose? I ask you this because exists also "Nexo Digital", which instead from what I understand is a distribution company. of the cinematographic exercise.
Anyway for answer your question, in my opinion I suppose that probably (and we hope), this could only be an isolated case. Otherwise, similar cases would have already ended up "in the spotlight".

 

[Wisdom01]

They deserved to be fined for that , they should have taken precaution as regard the xrp law suit case and know how to handle it. A lot of customers would be really affected

 

[highspeed]

However, we must consider also the fact that Ripple is grappling with a legal action, filed with the US Securities Exchange Commission.

 

[SCAMEXPOSER]

However, we must consider also the fact that Ripple is grappling with a legal action, filed with the US Securities Exchange Commission.

The SEC case ripple is not longer a big obstacle to the company any more because the trial has been on their favour most of the time though any US base platform associating with them may not find it easy.

 

[sh199]

This kind of lawsuit or complaint has a negative impact on Nexo. Even I heard many news about Nexo that they block some accounts where crypto is banned without any kind of notice or notification. Hopes, they concern about these things.

 

[Wisdom01]

This kind of lawsuit or complaint has a negative impact on Nexo. Even I heard many news about Nexo that they block some accounts where crypto is banned without any kind of notice or notification. Hopes, they concern about these things.

Which country was crypto blocked that was banned by the nexo site , i would really like to know more on such information , because i am suprise

 

[highspeed]

The SEC case ripple is not longer a big obstacle to the company any more because the trial has been on their favour most of the time though any US base platform associating with them may not find it easy.

Ok, I see. And I am sorry, can you please tell me, more or less, how many exchange platform are associated ti the SEC?
Maybe Just the most known.
Thank you.

 

[SCAMEXPOSER]

Ok, I see. And I am sorry, can you please tell me, more or less, how many exchange platform are associated ti the SEC?
Maybe Just the most known.
Thank you.

All Exchange platforms based in the US are regulated and monitor by US SEC, all countries have their own SEC but countries that doesn't accept Crypto currency don't regulate.

 

[highspeed]

All Exchange platforms based in the US are regulated and monitor by US SEC, all countries have their own SEC but countries that doesn't accept Crypto currency don't regulate.

Ok, now it's clearer to me, thank you my friend! ??
II know that many countries in Africa still don't accept cryptocurrencies.

 

[SCAMEXPOSER]

Ok, now it's clearer to me, thank you my friend! ??
II know that many countries in Africa still don't accept cryptocurrencies.

Yeah except for South Africa that I think legalized the use of cryptocurrencies if I am right. SEC Nigerla tried to regulate it but CBN ban restricted them.

 

[Wisdom01]

Yeah except for South Africa that I think legalized the use of cryptocurrencies if I am right. SEC Nigerla tried to regulate it but CBN ban restricted them.

Yeah but cbn have gave in the information that they didn't ban crypto currency , they only stop the deposit and withdrawal of crypto currency which i don't understand

 

[sh199]

Which country was crypto blocked that was banned by the nexo site , i would really like to know more on such information , because i am suprise

I read an article many times ago on publish0x. A publisher writes his own experience about it. And it's not new, in many countries, those banned crypto are not availed to invest in various crypto sites.

 

[Wisdom01]

I read an article many times ago on publish0x. A publisher writes his own experience about it. And it's not new, in many countries, those banned crypto are not availed to invest in various crypto sites.

Yeah you cant invest but you could recieve crypto currency like ripple in your crypto wallet , but the issue is you cant just buy its really bad because many people need to find their wallet

 

[highspeed]

Yeah except for South Africa that I think legalized the use of cryptocurrencies if I am right. SEC Nigerla tried to regulate it but CBN ban restricted them.

Indeed my friend. Just here on BMF, I heared about some African user (most come from Nigeria), who actually have big problems investing in cryptocurrencies.

 

[SCAMEXPOSER]

Indeed my friend. Just here on BMF, I heared about some African user (most come from Nigeria), who actually have big problems investing in cryptocurrencies.

The peer to peer has made Investing into Crypto currencies much easier for Nigerlans and other countries having similar challenges.

 

[highspeed]

The peer to peer has made Investing into Crypto currencies much easier for Nigerlans and other countries having similar challenges.

Yes, the P2P system has many advantages, (even if some little disadvantages). However, I recently heard of a Nigerian user saying that in his country, there are still problems with crypto. But these will soon be fixed.

 

[Niftyicon]

Yeah but cbn have gave in the information that they didn't ban crypto currency , they only stop the deposit and withdrawal of crypto currency which i don't understand

There is not much difference between the two in my opinion. Anyways, thankfully, we have a way around that with the p2p trades.

 

[SCAMEXPOSER]

Yes, the P2P system has many advantages, (even if some little disadvantages). However, I recently heard of a Nigerian user saying that in his country, there are still problems with crypto. But these will soon be fixed.

The ban has been there though the CBN said it never stops Nigerians from Crypto currencies transactions but prevented it banks from such transactions so this might be the problem he is referring to.