The U.S. Securities and Exchange Commission suspends the token registration of Wyoming’s first DAO

On November 11, the U.S. Securities and Exchange Commission (SEC) today blocked the country’s first legally recognized decentralized autonomous organization from registering its encrypted tokens as securities, claiming that it provided “misleading information” to potential investors. “. American CryptoFed DAO LLC filed Form 10 with the US Securities and Exchange Commission in September for the registration of securities traded on US exchanges. But according to the US Securities and Exchange Commission, the form does not have enough information about the two tokens (named Ducat and Locke) that the company wants to issue. The US Securities and Exchange Commission said in a statement on Wednesday that the form also lacks necessary information about US CryptoFed. The US CryptoFed was registered in Wyoming in July, becoming the first decentralized autonomous organization to obtain legal status in the United States. The company runs on the EOS blockchain and expressed its desire to introduce a new currency system to the United States. (Decrypt)

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