"Abra Settles Unlicensed Operation Charges in 25 States, Commits to Return Up to $82M to U.S. Customers and Ceases Crypto Trade Activities"

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

Abra and its founder and CEO William "Bill" Barhydt 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.Crypto investment platform Abra and its founder and CEO William "Bill" Barhydt have settled with 25 state financial regulators for operating its mobile application without the proper licenses, according to a Wednesday announcement from the Conference of State Bank Supervi...