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Abra Crypto App Charged by SEC for Transactions Affecting Thousands of US Stock and ETF Purchases




Abra cryptocurrency app has been charged by two U.S. regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The company has agreed to cease-and-desist orders as well as fines. The SEC says Abra’s employees “effected thousands of stock and ETF purchases in the U.S. to hedge the contracts.”

Abra Crypto App Sanctioned in the US

The SEC and CFTC independently announced on Monday that they have sanctioned California-based crypto app Abra and its related firm, Plutus Technologies Philippines Corp. d/b/a Abra International of the Philippines.

The SEC described in its order that …

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