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American CryptoFed Tries SEC Registration Route for Locke Token
The Wyoming DAO filed a Form 10 in June to register its Locke token. The SEC has until around August 17 to object or let the registration become effective automatically.
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American CryptoFed DAO, the first Wyoming-regulated decentralized autonomous organization, met with SEC staff last month to push forward the registration of its Locke governance token. The meeting, detailed in a Crypto Task Force memorandum, involved founder members Scott Moeller and Xiaomeng Zhou.
The organization told the SEC it recently converted into a Wyoming unincorporated nonprofit association under the state's UNA/DUNA Act. That move tightens its legal structure ahead of what it hopes will be a formal securities registration.
American CryptoFed filed a Form 10 with the SEC in June to register Locke as a reporting company. The filing follows the SEC's February decision to drop earlier proceedings against the DAO while encouraging it to pursue a registration path. The organization argues the Form 10 should become effective automatically 60 days after filing under the Securities Exchange Act of 1934, putting the target date around August 17. If the SEC does not object, American CryptoFed would become a voluntary reporting entity, publishing ongoing disclosures.