Uniswap Foundation leads coalition urging Treasury Secretary Bessent to clarify legal framework for DAOs

The Uniswap Basis led a coalition of 18 giant cryptocurrency organizations within the petition of Minister of Treasury Scott Bessent for federal steerage on decentralized autonomous group (DAO) compliance.

In a letter of two September, Uniswap Basis quotes persistent authorized uncertainty that Innovation Offshore has pushed.

The doc argues for the federal recognition of Wyoming’s decentralized non -recorded Non -Revenue Affiliation (Duna) Framework, signed within the legislation in 2024, as a mannequin for providing DAOS authorized readability, whereas retaining their decentralized administration constructions.

With the Duna -Framework, DAOS can enter into contractual relationships, handle treasury funds and adjust to tax obligations, whereas defending token holders in opposition to private legal responsibility.

The letter acknowledged:

“Daos within the US has traditionally confronted with persistent authorized uncertainty. Many DAOs haven’t any readability about whether or not basic firms, reminiscent of the opportunity of signing contracts, managing property or assembly tax obligations, exposing contributors in private legal responsibility.”

Two -part convention help

The initiative has obtained political help, by which senator Cynthia Lummis endorses the framework and defend efforts to “construct the authorized basis that American innovators must succeed”.

The letter refers back to the President’s working group report on digital property, which requires Treasury and IRS cooperation with blockchain -non revenue organizations to facilitate US domiciliation.

Uniswap Governance, described as ‘one of many largest and most lively DAOs on the planet’, has proposed to undertake the Duna construction as a check case for the broader ecosystem. The coalition argues that this can be a milestone that reveals that compliance and decentralization along with our authorized frameworks can co -exist.

Eighteen organizations signed the letter, together with established entities reminiscent of Polygon, Tally and the Blockchain Affiliation, along with newer gamers reminiscent of ZKSync, Morpho and the Solana Coverage Institute.

The varied coalition consists of infrastructure suppliers, Defi protocols, enterprise funds and coverage curiosity teams.

Aggressive risk

The signatories emphasised the aggressive risk of different jurisdictions that actively court docket blockchain organizations.

The letter warns that steady regulatory ambiguity runs the danger of pushing innovation away from American markets, as a result of worldwide rivals draw up extra clearer frameworks for decentralized entities.

The coalition requires three particular federal actions: recognition of DAO-Dao-Dao, involvement in communities that frameworks reminiscent of Duna, and the supply of federal paths, together with protected ports, interpretative steerage or rules made.

The letter concluded:

“With well-considered cooperation, we are able to make sure that the US stays a house for internet-native innovation rooted in transparency, compliance and open participation.”

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