Abra Crypto Customers to Get $82 Million in State Settlement (2)

Crypto trading platform Abra will return approximately $82 million in cryptocurrency to customers under a settlement with more than 20 state regulators.

Abra Trading LLC and its subsidiaries including Plutus Financial Inc. operated in states around the country without required state licenses, according to the settlement announced Wednesday by the Conference of State Bank Supervisors. Washington state’s Department of Financial Institutions led the probe into the crypto company.

Abra’s US trading unit will be wound down and it ceased doing business with US customers following an emergency cease-and-desist order Texas securities regulators filed last June, the agreement said.

Bill Barhydt, ...