Crypto Groups Urge SEC to Reconsider DAO Regulation

According to Cointelegraph, the DeFi Education Fund and the Uniswap Foundation have urged the Securities and Exchange Commission (SEC) to adopt a hands-off approach regarding the regulation of decentralized autonomous organizations (DAOs). In a letter dated May 27 to Hester Peirce, head of the SEC's Crypto Task Force, the groups argued that DAOs should not be subjected to the Howey test, which defines securities, if they are 'sufficiently decentralized. ' They emphasized that DAOs, being non-identifiable and lacking a coordinated structure, should not fall under the same regulatory framework as traditional securities. The letter further suggested that DAOs should be treated as individuals or groups of persons unless proven otherwise source: https://www.binance.com/en/square/post/24887918521737?utm_source=BinanceNewsRSS