Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Crypto lending and stablecoin project BarnBridge is facing legal action from U.S. securities regulators – as well as fines – and it’s responding perhaps in a novel way: a token-holder vote.to authorize its founders Tyler Ward and Troy Murray to do whatever’s necessary to comply “with the Order of the Securities and Exchange Commission,” including the payment of “disgorgement.”
It’s not clear what law the project may have broken but the SEC’s involvement indicates BarnBridge was likely providing some sort of securities product to U.S. investors – at least in the eyes of U.S. investigators. The current DAO vote indicates the project’s founders intend to comply with regulators’ demands – a prospect that could mean shutting down.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Instadapp introduces lending protocol Fluid in testing phase, aiming for January releaseInstadapp, one of the biggest DeFi protocols, was inspired by multiple other projects like Aave and Uniswap in building Fluid.
Read more »
Researchers publish first harmonized exposure protocol for ecotoxicity testing of micro- and nano-plasticsPlastic pollution has become a significant environmental and human health issue at a global scale. Yet despite increasing concern over the harmful effects of micro- and nano-plastics (MNPs), no harmonized guidelines or protocols for their ecotoxicity testing have been available to date.
Read more »
Reserve expands stablecoin protocol to Coinbase's Base networkStablecoin platform Reserve Protocol has launched on the Ethereum Layer 2 Base, allowing users to create asset-backed tokens.
Read more »
Circle rolls out native USDC tokens on PolygonStablecoin issuer Circle has announced the launch of native USDC support on Ethereum scaling protocol Polygon.
Read more »
European regulator: DeFi comes with significant risks as well as benefitsThe ESMA doesn’t believe that DeFi managed to avoid the counterparty risk, even if, in theory, it should be lower or even non-existent.
Read more »
Web3 affiliate marketing protocol Fuul enters private beta from stealthFuul completed a16z's Crypto Startup School this year and gained support from DCG Expeditions, the venture arm of DCG.
Read more »