Bulgarian authorities have dropped the money laundering investigation against executives of Nexo

ChainCatcher news, the Sofia Prosecutor's Office has withdrawn the money laundering investigation against Nexo executives, as their actions were deemed legal.

The investigation was initiated on September 29, 2022, focusing on allegations of involvement in organized crime groups and unauthorized banking activities through Nexo. According to relevant laws, four individuals were accused of operating an organized crime group from 2018 to January 2023. Additionally, two of them faced charges for conducting unauthorized banking transactions from June 2018 to January 2023, involving lending and depositing various currencies on the Nexo platform without the proper authorization under the Credit Institutions Law (CLI).