According to TechFlow, BarnBridge DAO and its two founders, Tyler Ward and Troy Murray, agreed to pay more than $1.7 million to settle the U.S. Securities and Exchange Commission's charges of unregistered offering and sales of structured crypto asset securities, namely SMART Yield bonds.
The SEC also charged the defendants with violating regulations by operating BarnBridge’s SMART Yield pool as an unregistered investment company. To resolve the SEC’s charges, BarnBridge agreed to disgorge nearly $1.5 million in sales proceeds, and Ward and Murray agreed to pay a civil penalty of $125,000 each.
