{"id":130206,"date":"2025-05-29T07:15:27","date_gmt":"2025-05-29T07:15:27","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130206"},"modified":"2025-05-29T07:15:27","modified_gmt":"2025-05-29T07:15:27","slug":"crypto-lobby-group-says-sec-should-back-off-regulating-most-daos","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130206","title":{"rendered":"Crypto lobby group says SEC should back off regulating most DAOs"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto lobby group the DeFi Education Fund and the Uniswap Foundation have said the Securities and Exchange Commission should be hands-off on regulating decentralized autonomous organizations (DAOs).<br \/>\nThe May 27 letter to SEC Crypto Task Force lead Hester Peirce argued that the agency should not treat DAOs under the purview of the securities-defining Howey test if they\u2019re \u201csufficiently decentralized,\u201d as they are not identifiable and are not a coordinated group.<br \/>\nInstead, the pair said DAOs should be treated as individuals or a group of persons unless proved otherwise.\u00a0<br \/>\n\u201cIf a DAO has a dispersed collection of tokenholders who have the opportunity to actively participate in and govern the DAO and the network, it is sufficiently decentralized such that neither the network token for that DAO, nor transactions in which that network token are the object, should be considered a security.\u201d the letter read.<br \/>\nThe letter was issued in response to Peirce\u2019s Feb. 21 statement, which invited comments on crypto.<br \/>\nFavorable regulatory environment<br \/>\nThe SEC has flipped on its crypto enforcement actions under the Trump administration, which successfully installed the former crypto lobbyist Paul Atkins to lead the agency.<br \/>\nAtkins has stated that blockchain technology could usher in new forms of market activity.<br \/>\nRelated: Crypto vulnerable if CFTC not given authority, says ex-chair Behnam<br \/>\nThe following week, Atkins said that the regulator would not stifle innovation and lambasted the Biden administration\u2019s approach to crypto.<br \/>\nIn a May 20 SEC oversight hearing, Atkins confirmed that the Crypto Task Force\u2019s first report will be released in the next few months, the group is also holding a series of crypto-related roundtable discussions with industry players.<br \/>\nMagazine: Move to Portugal to become a crypto digital nomad \u2014 Everybody else is<a href=\"https:\/\/cointelegraph.com\/news\/crypto-lobby-group-sec-should-back-off-regulating-most-daos?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto lobby group the DeFi Education Fund and the Uniswap Foundation have said the Securities and Exchange Commission should be hands-off on regulating decentralized autonomous organizations (DAOs). The&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130206"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130206"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130206\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130206"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}