Key Takeaways

• It was recently reported that the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) began probing Digital Asset Treasury companies (DATs), raising a variety of compliance and governance issues, including:
  • Preferential treatment of certain investors
  • Use of material nonpublic information (MNPI)
  • Inadequate internal controls and anti-money laundering (AML)

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