Crypto app Abra and partner company Plutus settle charges from SEC and CFTC for $300K after allegedly facilitating unregistered security-based swap transactions
me thinks the SEC & CFTC are starting to signal they don't like DeFi. SEC: A synthetic swap is a security violation CFTC: its an illegal off-exchange swaps in digital assets and foreign currency https://www.cftc.gov/... https://www.cftc.gov/...
@josephtodaro_
Joseph Todaro on x
Abra offered investors synthetic exposure to US equities SEC slapped them with a fine This may have implications for synthetic platforms like @synthetix_io $SNX This is the familiar cex vs dex regulatory enforcement argument playing out Let's see how it evolves https://twitter.co…
@jchervinsky
Jake Chervinsky on x
Abra just settled enforcement actions with SEC & CFTC for entering illegal off-exchange swaps. Combined with the CFTC's recent “actual delivery” guidance, this is starting to look like a crackdown on crypto derivatives. SEC: https://www.sec.gov/... CFTC: https://www.cftc.gov/...
@msantoriesq
Marco Santori on x
1/ BREAKING 🚨 popular crypto app Abra charged by and settles with SEC for offering securities swaps. This is interesting for a few reasons. Short thread follows. https://www.sec.gov/...
@edadoun
Eric Dadoun on x
Can we agree at this point this is what SEC action looks like for crypto? Egregiousness & uncooperative entities will get the hammer. Cooperation will get a frown + fine. Govs are slow but they aren't going to “kill” innovation nor ignore cryptos increasingly geopolitical nature.…
@masonic_tweets
Mason & Co on x
For those working on defi apps, please read this. Architecturally this was similar to how defi apps would have rolled out the same product. https://twitter.com/...