Embattled Nexo Sues Cayman Islands Monetary Authority for Blocking Its VASP License

Nexo is suing Cayman Islands’ financial regulator for denying its registration as a virtual asset service provider in the territory. The Cayman Islands Monetary Authority declined Nexo’s VASP application dated December 20. Among the reasons cited by the authority is a need for more documentation on customer and enterprise risk assessment. CIMA is also faulting