SEC has banned the token registration of the first decentralized organization in the USA
The regulator accuses DAO of providing “misleading information
![SEC has banned the token registration of the first decentralized organization in the USA](https://storage.getblock.net/source/1/AY82txeAeoo9DQCGsp9pyk1iRrizhiM8.png)
11.11.2021 - 09:45
268
1 min
0
What’s new? The U.S. Securities and Exchange Commission (SEC) has opposed the registration of American CryptoFed tokens, the first legally recognized decentralized autonomous organization (DAO).
News source on the Decrypt website
What is the reason for the ban? According to the SEC representatives, the organization deliberately provided “misleading information” to investors. DAO applied to register the tokens as securities in September 2021, but the data for the future Ducat and Locke tokens was incomplete. In addition, the required information about the company itself was also not provided at the time of application.
What is known about DAO? In July 2021, American CryptoFed became the first American decentralized autonomous organization to receive a license to operate in the state of Wyoming. The main purpose of DAO is to introduce a new monetary system to the United States.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024