Crypto lobby group says SEC should back off regulating most DAOs
Summary
The DeFi Education Fund and the Uniswap Foundation argue that the SEC should not regulate DAOs using the Howey test if they are "sufficiently decentralized." They suggest DAOs should be treated as individuals or groups unless proven otherwise. A DAO with dispersed tokenholders actively participating in governance should not have its network token or related transactions considered securities. This stance responds to SEC Crypto Task Force lead Hester Peirce's invitation for comments on crypto regulation. The SEC, under Paul Atkins, has shifted its approach to not stifle innovation, with upcoming reports and discussions planned.
