Fed who? American CryptoFed DAO swaps Wyoming paperwork for SEC sit-down 🏛️

American CryptoFed DAO, the Wyoming-approved organization registered as the first regulated decentralized autonomous organization in the United States, met with the U.S. Securities and Exchange Commission to address regulatory questions and outline its planned token launch. The meeting, documented in an SEC Crypto Task Force memorandum, included founder members Scott Moeller and Xiaomeng Zhou, who confirmed that American CryptoFed converted to a Wyoming unincorporated nonprofit association under the UNA/DUNA Act last month and filed a Form 10 registration statement.

The organization told SEC staff it intends to operate as a parallel monetary system to the Federal Reserve, structured around zero inflation, zero deflation, zero transaction costs and maximum employment. It also discussed the structure of its Locke governance token, which it expects to be available for trading next month pending SEC review.

American CryptoFed characterized the engagement as a constructive step toward clarifying the regulatory treatment of DAOs and the token offering. The SEC Crypto Task Force memorandum did not include any explicit endorsement or disapproval, and the meeting outcome leaves the formal approval timeline for the Locke token tied to the commission's standard review process.