American CryptoFed Presses SEC for Locke Token Recognition Amid August Deadline

American CryptoFed is urging the U.S. Securities and Exchange Commission (SEC) to recognize its Locke governance token registration before an August 17 deadline. The organization argues that under federal securities law, the registration should become automatically effective on this date unless the SEC takes action beforehand.

The DAO plans to launch Locke token trading on Uniswap while following SEC disclosure and reporting requirements. American CryptoFed believes that progress on the CLARITY Act could support its stablecoin-linked decentralized monetary system.

A meeting between SEC staff, including the agency's Crypto Task Force, and American CryptoFed founders Scott Moeller and Xiaomeng Zhou was held to discuss the nonprofit's registration efforts and governance token. The organization confirmed that it filed a Form 10 last month to register the Locke governance token as a reporting company under the Securities Exchange Act of 1934.