Crypto Lending DAO BarnBridge Faces Legal Action From SEC, Asks Token Holders To Authorize Compliance
-
Crypto lending project BarnBridge faces legal action and fines from the SEC.
-
BarnBridge opened voting for token holders to authorize founders to comply with the SEC's demands.
-
This could include shutting down BarnBridge and distributing remaining treasury tokens.
-
BarnBridge is likely the first DAO to ask its community to authorize compliance with the SEC.
-
The initial vote only had one participant - a BarnBridge team wallet, essentially rubber stamping the decision.