Abra Settles With 25 States for Operating Without Licenses, Will Return Up to $82M to U.S. Customers

Abra and its CEO have settled with 25 state financial regulators for operating without money transmitting licenses.

Abra will return up to $82.1 million to U.S.-based customers in the 25 states.

Abra has agreed to stop accepting crypto allocations from U.S. customers and to cease cryptocurrency trading activities with U.S. customers.

The settlement comes in addition to Abra's settlements with certain state securities regulators for selling unregistered securities.

https://www.coindesk.com/policy/2024/06/26/abra-settles-with-25-states-for-operating-without-licenses-will-return-up-to-82m-to-us-customers/