BarnBridge is the latest crypto project that found itself entangled in legal proceedings initiated by the US Securities and Exchange Commission (SEC). With potential financial penalties on the horizon, the project turned to its token holders.
The details of any specific order sent by the financial regulator have not been disclosed.
Voters Decide on SEC’s ‘Order’
The DeFi protocol kicked off a voting process on October 10th, centered around a proposal to allow its creators – Tyler Ward and Troy Murray – the authority to take any required actions to ensure compliance with the directives of the SEC, among other things.
The voters unanimously voted in favor of the proposal, which also includes paying all disgorgement amounts required by the SEC’s potential demands and authorizing BarnBridge’s legal counsel, Douglas Park, to sign the final version of the order on behalf of the project.
Voters are also in favor of the Treasury to compensate all of Park’s invoices related to t
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