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CryptoFed DAO Registration at Risk as SEC Alleges Filing Anomalies, Telegram Channel Disabled

1 min read Original Link

American CryptoFed DAO, the first decentralized autonomous organization (DAO) to get legal recognition in the United States, is at risk of losing its registration.

According to the SEC’s Division Of Enforcement, the Form S-1 registration statement filed by American CryptoFed lacks vital information, such as audited financial statements and details about its business and management. The SEC further believed that the American CryptoFed filing contains “misleading statements and omissions” while being inconsistent in describing the tokens as securities.

Cointelegraph found that the official Telegram channel for the DAO has been disabled.

# SEC

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