Crypto investment platform Abra and its founder and CEO William 'Bill' Barhydt have reached a settlement with financial regulators in 25 states for operating their mobile app without a money transmission license, CoinDesk reported. According to an announcement by the Conference of State Bank Supervisors (CSBS) on Wednesday, under the terms of the settlement, Abra will refund up to $82.1 million in cryptocurrency to U.S. customers in the settlement states. Abra also agreed to stop accepting cryptocurrency allocations from all U.S. Abra Trade customers and to stop 'making, buying, selling or trading cryptocurrency' for U.S. Abra Trade customers. Barhydt also agreed not to participate in any money transmission or money service business in 'any capacity' other than as a passive investor for the next five years. The states involved in the settlement include Washington, Arkansas and Connecticut. Abra settled with state financial regulators for unlicensed money transmission activities, and the company also settled with certain state securities regulators, including New Mexico and Texas, for the sale of unregistered securities.