Coinspeaker
Abra Agrees to Settlement in Multi-States Securities Probe
Cryptocurrency platform Abra has decided to settle with the United States Securities and Exchange Commission (SEC) over allegations of unregistered securities. For context, Abra allegedly pushed its Earn product, which qualified as securities, to customers without registering it appropriately.
Abra Misled American Citizens
Abra began pushing this Earn product to its customers four years ago, asking them to provide their assets for use while they receive high returns as rewards. The regulator classifies this action as misleading. Eventually, the company started phasing out the Abra Earn program and advised its US customers to withdraw their crypto assets from the platform in June 2023.
According to the SEC’s filing, the Abra Earn program had up to $600 million; the largest part of this fund ($500 million) came from US investors. Also, for the most significant part of its operation, Abra acted as an u
We współpracy z: https://www.coinspeaker.com/abra-multi-states-securities-probe/
