The SEC has settled with crypto lender Plutus Lending LLC, also known as Abra, over allegations that it violated federal securities laws. Abra failed to register its retail crypto lending product, Abra Earn, and operated as an unregistered investment company. Abra has agreed to pay a $1.65 million civil penalty and comply with a permanent injunction imposed by the SEC. The charges stem from Abra's offering of Abra Earn, which allowed US investors to lend cryptocurrency in exchange for interest payments. The SEC continues to target firms that do not comply with registration and disclosure requirements in the crypto sector.



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