Tag: Abra

SEC Charges Abra with Unregistered Crypto Asset Sales and Investment Company Violations

Crypto Schemes Charlene Lensburg - August 27, 2024

The U.S. Securities and Exchange Commission (SEC) has filed settled charges against Abra for offering unregistered crypto asset securities and operating as an unregistered investment company. The SEC’s complaint also alleges that Abra operated for at least two years as an unregistered investment company because it issued securities and held more than 40% of its total assets, excluding cash, in investment securities, including its loans of crypto assets to institutional borrowers.

US Regulators close down crypto trading app Abra

CFTC Mark Lagarde - July 14, 2020

The U.S. regulators SEC and the CFTC have cracked down on the innovative crypto trading platform Abra, which enables its users to trade tokenized versions of stocks. According to the SEC press release, the agency charged California-based Abra for offering and selling security-based swaps to retail investors without registration and for failing to transact those swaps on a registered national exchange.

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