SEC went after Barn_Bridge according to important warning to community shared by the DAO's legal counsel
Douglas Park, legal counsel for BarnBridge DAO, disclosed in an official statement that the SEC is investigating the project and its associates. To minimize potential legal liabilities, he advised the cessation of all work related to BarnBridge products, the closing of existing liquidity pools and a halt to any new pool creation until further notice.
The SEC's recent actions raise important questions about its approach to regulating DeFi. Primarily, why is it targeting smaller projects like BarnBridge DAO?Pretty nasty, these guys are just going to get drown in paperwork.
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