TechFlow reports that the BarnBridge DAO has agreed to cease unregistered offerings and sales. Today, the U.S. Securities and Exchange Commission (SEC) announced that the so-called decentralized autonomous organization BarnBridge DAO and its two founders, Tyler Ward and Troy Murray, will pay over $1.7 million to settle charges related to the unregistered offering and sale of structured crypto asset securities—namely SMART Yield bonds.
The SEC also alleged that the defendants operated BarnBridge’s SMART Yield pools as unregistered investment companies, resulting in violations. To resolve the SEC's charges, BarnBridge has agreed to disgorge nearly $1.5 million in revenue from sales, while Ward and Murray have each agreed to pay a civil penalty of $125,000.
Previous report, on July 7, BarnBridge DAO was under investigation by the U.S. SEC and announced it would shut down its liquidity pools and suspend all operations.
