SEC Fines Bitcoin Crypto Wallet

SEC Fines Bitcoin Crypto Wallet

The United States Securities and Exchanges Commission (SEC) has fined Abra, a bitcoin and crypto wallet, for failing to register. They say:

“Abra developed and owns an app that enabled users to bet on price movements of U.S.-listed equity securities.

Using the app, individuals were able to enter into contracts that provide synthetic exposure to price movements of stocks and exchange-traded fund (ETF) shares trading in the U.S. through blockchain-based financial transactions with Abra or with related company Plutus Technologies Philippines Corp.

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