Nexo Sues Cayman Island Regulator Over VASP Rejection

Cryptocurrency lending platform Nexo has filed suit against the regulator in the Cayman Islands which rejected the firm’s application for a virtual asset service provider (VASP) license. Nexo, a crypto lender, has sued the Cayman Islands Monetary Authority (CIMA) for denying it registration as a VASP according to reports by The Block and Cointelegraph citing a lawsuit filed on January 12.