The UNISWAP Basis led a coalition of 18 main cryptocurrency organisations in a petition by Treasury Secretary Scott Bescent for federal steering on decentralized autonomous organizations (DAO) compliance.
In a September 2nd letter, the Uniswap Basis cites sustained authorized uncertainty that offshores innovation.
The doc advocates a federal recognition of Wyoming’s non-decentralized, non-integrated, non-profit organizations (DUNA) framework, which was signed into regulation in 2024.
The DUNA framework permits DAOs to interact in contractual relationships, handle Treasury funds and shield token holders from private legal responsibility whereas complying with tax obligations.
The letter said:
“US DAOs have traditionally confronted sustained authorized uncertainty. Many DAOs haven’t made clear whether or not their elementary companies put members at private legal responsibility, resembling their capacity to signal contracts, handle belongings, and meet tax obligations.”
Assist for bipartisan parliamentary
The initiative has gained political assist, and Sen. Cynthia Ramis backs the framework and defends efforts to “construct the authorized foundations that American innovators must succeed.”
This letter refers back to the President’s Working Group Report on Digital Belongings. It requires monetary and IRS cooperation with blockchain nonprofits to advertise US residence.
Referred to as “one of many world’s largest and most energetic DAOs”, UnisWap Governance proposes adopting the DUNA construction as a take a look at case for a broader ecosystem. The Union argues that this represents a milestone that demonstrates compliance and decentralization can coexist throughout the US authorized framework.
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Eight organizations, together with established entities resembling Polygon, Tally and The Blockchain Affiliation, co-signed the letter together with new gamers resembling Zksync, Morpho and the Solana Coverage Institute.
The varied coalition spans infrastructure suppliers, Defi protocols, enterprise funds, and coverage advocacy teams.
A aggressive menace
The signatories highlighted the specter of competitors posed by different jurisdictions.
The letter warns that as world opponents set up a clearer framework for decentralized entities, there’s a danger that regulatory ambiguity will proceed to push innovation from the US market.
The Union calls for 3 concrete federal actions: Consciousness of deprived DAO compliance efforts, engagement with neighborhood pilot frameworks resembling DUNA, and offering federal routes resembling secure ports, interpretive steering, and tailor-made guidelines growth.
The letter has completed:
“Considerate collaboration will permit the US to stay a house of internet-native innovation rooted in transparency, compliance and open participation.”
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