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TechFlow reports that cryptocurrency platform Abra and its CEO William Barhydt have reached a settlement with 25 U.S. states for operating without proper licenses.
Under the settlement agreement, the states will waive potential penalties of up to $250,000 per person for customer repayment costs. Up to $82.1 million in total and all remaining virtual assets will be returned to Abra customers in the settling states.
Cryptocurrency platform Abra and CEO William Barhydt have reached settlements with 25 U.S. states for operating without licenses. Under the settlement agreements, the states will not require a $250,000 penalty per person to cover customer reimbursement costs. Up to $82.1 million in cash and all remaining virtual assets will be returned to Abra customers in the settling states.
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