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Crypto firm Abra reaches settlement with US states for operating without licenses https://t.co/6JgX1Tf9hP https://t.co/p4kG9q10n1
[REUTERS] Crypto firm #Abra reaches settlement with US states for operating without licenses
Crypto investment platform @AbraGlobal has settled with 25 U.S. states for operating without the required licenses, and will return up to $82 million in crypto to U.S.-based customers. @cheyenneligon reports https://t.co/Fb5KpPs2TO
On June 26, cryptocurrency investment platform Abra reached a settlement with financial regulators in 25 U.S. states for operating without the required state licenses. The settlement includes an agreement for Abra to return up to $82 million in cryptocurrency to its U.S.-based customers. The firm and its CEO were found to have operated their mobile app without the necessary licensing, leading to the regulatory action.