It looks like the SEC isn't done with trading app Abra just yet

Back in July, the Securities and Exchange Commission alongside the Commodity Futures Trading Commission fined investment app Abra for providing trading on synthetic assets.

In response to Cointelegraph's Freedom of Information Act request for details in the Abra case, the SEC cited FOIA exemption 5 U.S.C. 552(b)(7)(A) - an exemption that only applies to ongoing investigations.

The SEC's response does not provide details into the ongoing investigation, and was careful to spell out that it does not mean the commission is accusing Abra of anything yet: "The assertion of this exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security."

So what exactly the SEC is investigating remains a matter of speculation, but must be something worth possibly filing another case over.

The original fines leveled against Abra were relatively small, totalling only $300,000.

Abra has offices in California as well as the Philippines.

The service to which the SEC and the CFTC ordered a halt was not one that the firm offered to U.S. users.

Similar questions of jurisdiction arose during the SEC's pursuit of Telegram for its offering of GRAM tokens.

Abra had not responded to Cointelegraph's request for comment as of press time.

Back in August, SEC Commissioner Hester Peirce told Cointelegraph regarding the Abra case and SEC jurisdiction that "It's helpful if we can be as clear as possible about when our laws apply and when they don't, it's just that the world is a messy place."