ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) announced that the decentralized autonomous organization BarnBridge DAO and its two founders, Tyler Ward and Troy Murray, will pay over $1.7 million to settle charges with the SEC regarding the unregistered offering of structured crypto asset securities (SMART Yield).The SEC also alleged that the two operated BarnBridge's SMART Yield pool as an unregistered investment company. BarnBridge agreed to forfeit nearly $1.5 million in sales proceeds, and Ward and Murray each agreed to pay a civil penalty of $125,000.

ChainCatcher message, risk-rated derivatives protocol BarnBridge official Twitter shares a screenshot of Barnbridge DAO's legal advisor Douglas Park speaking on Discord. Park stated that the U.S. SEC is secretly investigating Barnbridge DAO and individuals associated with the DAO. To mitigate potential further legal liabilities, existing liquidity pools should be closed, and no new liquidity pools should be initiated. All work related to Barnbridge products should cease, and individuals should not receive compensation for any work related to Barnbridge until further notice. (Source link)