Recognized as the first legal DAO in the United States American CryptoFedto the US Securities and Exchange Commission (SEC) token withdrew their application.
American CryptoFed, a Wyoming-based decentralized autonomous organization (DAO) SEC according to his filing, he did to the SEC Locke and Ducat withdrew its request to register its tokens as securities.
The following statements regarding the withdrawal requests were included in the file:
“CryptoFed requests that its security application for the Locke and Ducat token be withdrawn as these tokens are not securities.”
CryptoFED applied for registration with the SEC last year to use these tokens on the secondary market and returnable auctions at a higher value than the originals.
However, the SEC has rejected CryptoFED’s application. “Declaring that a materially incomplete and misleading registration form has been filled” It stopped in November.
CryptoFED, which has now withdrawn its registration request, stated in its file that the tokens in question were not given or sold to users.
The American CryptoFED, which was legally recognized in the state of Wyoming last July, “a monetary system with zero inflation, zero deflation, zero transaction costs” qualifies as.