Crypto company Abra agreed to settle with 25 state financial regulators who say the firm operated without being properly licensed. 

The settlement, which also names its CEO William Barhydt, requires Abra to stop making, buying, selling or trading crypto to U.S. Abra Trade customers and says the firm must return $82 million in virtual assets to customers, according to a statement released by the Conference of State Bank Supervisors. The organization comprises 50 states and other U.S. territories and supervises 79% of all U.S. banks. 

A group of state financial regulators from Arkansas, Connecticut, Georgia, Ohio, Oregon, Texas, Vermont, and Washington State investigated Abra and said the firm operated a mobile application for buying, selling, trading and investing in crypto and …