Securities & Exchange Commission (SEC) settled charges against Abra, a crypto lending platform on August 26.
SEC filed settled charges against Abra, a firm that runs a crypto lending business, for $500 million sale of unregistered securities. In the Ripple case the Judge ruled that sale of XRP to institutions was a securities violation, but Abra did not admit or deny charges. Pro-crypto attorney Bill Morgan says SEC is less likely to appeal the Ripple ruling, per recent developments. Securities & Exchange Commission settled charges against Abra, a crypto lending platform on August 26.
The SEC’s press release states that Abra operated as an investment company without registration for at least two years. The press release reads: To settle the Commission’s charges, Abra, without admitting or denying the SEC’s allegations, has consented to an injunction prohibiting it from violating the registration provisions of the Securities Act and the Investment Company Act and requiring it to pay civil penalties in amounts to be determined by the court. The presiding judge in the SEC vs.
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