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SEC acts to cancel registration of “misleading” crypto offering

Stack of crypto coins
Photo: Getty Images

Martina Lindberg

1 min read
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American CryptoFed’s token registration risks suspension after allegation of false security statements.

The Securities and Exchange Commission (SEC) has instituted administrative proceedings against the Wyoming-based organization American CryptoFed DAO LLC (American CryptoFed). The regulator is considering the issue of a stop order to suspend registration of the offering and the sale of two crypto assets, the Ducat token and the Locke token.

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