SEC fines Bitcoin wallet Abra for selling "security based" FX & digital asset swaps

posted 3 months ago
The SEC and the Commodity Futures Trading Commission settled charges with Abra, a crypto investment app maker, for $300k.

In the case of the SEC, the agency accused Abra of "offering and selling security-based swaps to retail investors without registration and for failing to transact those swaps on a registered national exchange." The CFTC charged Abra "for entering into illegal off-exchange swaps in digital assets and foreign currency with U.S. and overseas customers and registration violations."
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