**SEC Charges Abra with Unregistered Offers and Sales of Crypto Asset Securities**
In a significant move, the U.S. Securities and Exchange Commission (SEC) has leveled charges against Abra, a digital asset financial services company. The allegations point to Abra’s involvement in unregistered offers and sales of crypto asset securities.
According to the SEC, Abra and its founder, William Barhydt, failed to register their offers and sales, which is a violation of federal securities laws. The charges are part of the SEC’s ongoing efforts to regulate the burgeoning crypto industry and ensure compliance with existing financial regulations.
This development adds to the increasing scrutiny faced by crypto businesses from regulatory bodies worldwide. Abra has yet to comment on the charges formally. The industry is closely watching the situation, as the outcome could set a precedent for future regulatory actions.
Source: https://en.coinotag.com/breakingnews/sec-accuses-abra-of-unregistered-crypto-asset-securities-transactions/