The Crypto Lobby Group The Defi Education Fund and the Uniswap Foundation said the Securities and Exchange Commission should be hands-off in regulating the decentralized autonomous organization (DAO).
May 27th Letter The SEC Crypto Task Force led to Hester Peirce arguing that the agency should not treat the DAOs under the trial perspectively defined by the security if they were “enough decentralized,” because they would not be recognized and not a coordinated group.
Instead, the pair said the DAOs should be treated as individuals or a group of people unless proven otherwise.
“If a DAO has a scattered collection of tokenholders with the opportunity to actively participate and rule the DAO and the network, it is sufficient to decentralized either the network token for the DAO, or transactions where the network token is the matter, should be considered a security.” The letter was read.
The letter was issued in response to Peirce’s Feb. 21 statementthat invited the Crypto comments.
Desired regulatory environment
The SEC has led to the actions that implemented the crypto under the Trump administration, who successfully installed the former crypto lobbyist Paul Atkins to lead the agency.
Atkins said the blockchain technology Can be curious In new forms of market activity.
Related: Crypto is weak if the CFTC is not granted authority, says ex-chair Behnam
Next week, atkins Says that the regulator will not avoid the change and the lamb is the approach of the Biden administration in crypto.
At a hearing of May 20 SEC, the Atkins confirmed That the first Crypto Task Force report will be released over the next few months, the group also holds a series of crypto -related discussions related to industry players.
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