SEC Charges Abra with Unregistered Offers and Sales of Crypto Asset Securities #Banking #FinancialServices

Washington, D.C.--(Newsfile Corp. - August 26, 2024) - The Securities and Exchange Commission today filed settled charges against Plutus Lending LLC, which does business as Abra, for failing to register the offers and sales of its retail crypto asset lending product, Abra Earn. The SEC also charged Abra with operating as an unregistered investment company.According to the SEC’s complaint, in or around July 2020, Abra began to offer and sell Abra Earn in the United States. Abra Earn allowed U.S....


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