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<ul><li>Abra settles with the SEC and agrees to civil penalties and operational injunctions.</li><li>SEC emphasizes traditional securities laws also apply to new crypto asset markets.</li><li>Abra Earn program, which manages $600 million, lacked the necessary SEC registrations.</li></ul>The Securities and Exchange Commission (SEC) has recently concluded a settlement with Plutus Lending LLC, known commercially as Abra. The company faced allegations of failing to register its crypto asset lending product, Abra Earn, and operating without an investment company registration.<h2 id="header-0">Details of the Abra Earn Program</h2>Abra, which launched its Abra Earn program in July 2020, promised U.S. investors an opportunity to earn variable interest rates by depositing their crypto assets. At its most active, the program managed assets close to $600 million, with U.S. investments making up nearly $500 million. The <a href="https://cryptotale.org/sec-raises-concerns-over-solana-etfs-halts-approval-process/" rel="noopener noreferrer nofollow">SEC&#39;s</a> findings suggest that Abra marketed this program as a straightforward way to generate interest in crypto holdings. However, the platform allegedly used these assets to generate its own income and pay participants interest.According to the SEC, Abra and its offerings effectively constituted securities, which legally required registration under SEC guidelines. The lack of such registration and Abra Earn&#39;s operational mode led to the SEC&#39;s charges.<a href="https://cryptotale.org/abra-settles-with-sec-over-unregistered-crypto-lending/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Abra Settles with SEC Over Unregistered Crypto Lending

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