Crypto platform Abra and its CEO William Barhydt have settled with 25 U.S. states over operating without the necessary licenses. The agreement followed an investigation by regulators from eight states into Abra's unlicensed mobile app for crypto trading. Washington led the settlement negotiations, resulting in no penalties required from the states, but up to $82.1 million and all remaining virtual assets to be returned to Abra customers. Barhydt has agreed to refrain from licensed money transmitter or money services business activities in the states for five years. This isn't Abra's first brush with regulators; it was fined $300,000 by the SEC in 2020.