American CryptoFed Pushes SEC Toward August Token Deadline

Founders Scott Moeller and Xiaomeng Zhou recently met with SEC staff to discuss the nonprofit’s transition into a Wyoming unincorporated nonprofit association, a move intended to align with state-level legal frameworks. By filing a Form 10 last month to register the Locke token as a reporting company under the Securities Exchange Act of 1934, the DAO is banking on a 60-day automatic effectiveness clause. This follows a February dismissal of prior administrative proceedings, which encouraged the group to pursue new registration pathways rather than abandon their federal ambitions.

Should the SEC grant clearance, American CryptoFed intends to facilitate token trading on the Uniswap decentralized exchange. The organization maintains that it can satisfy transparency requirements by utilizing existing reporting mechanisms, including Forms 144, 3, 4, and 5. Beyond the immediate registration, the group continues to advocate for a decentralized monetary system designed to operate alongside the Federal Reserve to mitigate inflation. Their strategy also leans on the potential passage of the CLARITY Act, which could provide a more robust legislative framework for digital assets as crypto-friendly lawmakers push for progress before the upcoming Senate recess.