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BREAKING: Another One Down! Top Cryptocurrency Firm Just Got Sued by Regulators for Being Way Too Good at Doing What They’re Supposed to Do (Hint: It Involves Following the Law)

A cartoonish illustration depicts a stern-looking SEC agent holding up a 'Guilty' sign in front of a crumbling Abra logo, while a crowd of investors with worried expressions flee from behind it, carrying briefcases filled with crypto assets and dollar signs.

Crypto companies: where regulatory compliance goes to die.

Source: bitcoin.com

The U.S. Securities and Exchange Commission (SEC) has filed settled charges against Plutus Lending LLC, operating as Abra, for failing to register the offers and sales of its crypto asset lending product, Abra Earn. The SEC also accused Abra of operating as an unregistered investment company, further complicating the firm’s regulatory standing. The SEC’s complaint highlights that Abra began offering and selling its Abra Earn product in the United States […]

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