Oregon

The Oregon Division of Financial Regulation has reached a settlement agreement in principle with a cryptocurrency asset platform for violating state securities regulations

Published

3 years ago

March 30, 2024

Eugene, OR – According to the state officials, the group of affiliated companies – Plutus Financial Holdings, Plutus Financial, Plutus Lending and Abra Boost – offered and sold interest-bearing cryptocurrency depository products referred to as Abra Boost and Abra Earn.

State officials also said that as part of the settlement, the companies are required to notify all Oregon consumers with open accounts containing crypto assets with the companies that they are winding down U.S. operations and to encourage consumers to move any remaining crypto assets from the platform.

Consumers have at least seven days from the date they receive notice to remove their assets from the Abra platform.

Assets remaining after that date with a value of $10 or more will be converted to fiat and a check or other instrument will be sent directly to the consumer’s last known address.

In Oregon, 167 residents still have cryptocurrencies on the Abra platform valued at about $32,387.14.

Related Topics:

Up Next

Motorists traveling on OR 36 from milepost 12 near Deadwood should expect temporary full closures and continued delays as part of ongoing efforts to address damage caused by January’s winter storms

Don't Miss

Camp Namanu is among Oregon’s latest entries in the National Register of Historic Places, state officials say

Eugene7 days ago

Sen. Wyden calls out DOJ and FBI, says they ‘must hand over this information’ or Democrats will subpoena it while accusing President Trump of ‘hiding Epstein evidence to protect Wall Street banks’

Eugene7 days ago

Eugene moves forward with 133 new downtown apartments at 1059 Willamette, including 68 affordable units and 10 reserved for domestic violence survivors

Eugene7 days ago

Eugene police investigate drug operation after SWAT raid leads to seizure of half-pound of meth, firearms-related items and stolen property

Eugene3 days ago

Senate candidate Drazan takes aim at Democrat opponent, says Gov. Kotek should ‘spend less time obsessing over Trump’ and more time fixing Oregon after heated debate

Eugene3 days ago

Oregon Sen. Jeff Merkley speaks out after Democrats block Republican stock trading bill, says ‘the bill Republicans are pushing is a sham’

Eugene3 days ago

Elderly woman arrested for DUII after rear-ending vehicle, nearly crashing into victim again with little child in car before refusing to take a breath test

Eugene7 days ago

Eugene police investigate animal neglect after more than 100 pet rats found inside two vehicles with little food and water

Eugene3 days ago

Eugene man arrested after allegedly pistol-whipping unhoused man in the head, attacking another victim and leaving firearm in dumpster downtown

Eugene Daily Post

The Oregon Division of Financial Regulation has reached a settlement agreement in principle with a cryptocurrency asset platform for violating state securities regulations

Oregon

The Oregon Division of Financial Regulation has reached a settlement agreement in principle with a cryptocurrency asset platform for violating state securities regulations

You may also like…

Oregon Sen. Jeff Merkley speaks out after Democrats block Republican stock trading bill, says ‘the bill Republicans are pushing is a sham’

Senate candidate Drazan takes aim at Democrat opponent, says Gov. Kotek should ‘spend less time obsessing over Trump’ and more time fixing Oregon after heated debate

Elderly woman arrested for DUII after rear-ending vehicle, nearly crashing into victim again with little child in car before refusing to take a breath test

Eugene man arrested after allegedly pistol-whipping unhoused man in the head, attacking another victim and leaving firearm in dumpster downtown

22-year-old woman arrested for DUII after driving over sidewalk, handing officer credit card instead of license and refusing to get into patrol car

Sen. Wyden calls out DOJ and FBI, says they ‘must hand over this information’ or Democrats will subpoena it while accusing President Trump of ‘hiding Epstein evidence to protect Wall Street banks’

Eugene moves forward with 133 new downtown apartments at 1059 Willamette, including 68 affordable units and 10 reserved for domestic violence survivors

Eugene police investigate drug operation after SWAT raid leads to seizure of half-pound of meth, firearms-related items and stolen property

Eugene police investigate animal neglect after more than 100 pet rats found inside two vehicles with little food and water

Eugene police arrest man for murder of his wife after homicide investigation on Fox Hollow Road

Sen. Wyden responds after digital extortion group breached FBI and stole data from employees, says ‘the FBI can’t even protect its own staff from being hacked’

Trending