The Uniswap Basis spearheaded a coalition of 18 main cryptocurrency organizations in petitioning Treasury Secretary Scott Bessent for federal steerage on decentralized autonomous group (DAO) compliance.
In a Sept. 2 letter, Uniswap Basis cites persistent authorized uncertainty that has pushed innovation offshore.
The doc advocates for federal recognition of Wyoming’s Decentralized Unincorporated Nonprofit Affiliation (DUNA) framework, signed into legislation in 2024, as a mannequin for offering DAOs with authorized readability whereas preserving their decentralized governance buildings.
The DUNA framework permits DAOs to interact in contractual relationships, handle treasury funds, and adjust to tax obligations whereas shielding token holders from private legal responsibility.
The letter said:
“DAOs within the US have traditionally confronted persistent authorized uncertainty. Many DAOs would not have readability on whether or not primary undertakings, equivalent to the power to signal contracts, handle belongings, or meet tax obligations, will expose individuals to private legal responsibility.”
Bipartisan congressional assist
The initiative has garnered political backing, with Senator Cynthia Lummis endorsing the framework and championing efforts to “construct the authorized basis American innovators have to succeed.”
The letter references the President’s Working Group Report on Digital Belongings, which mandates Treasury and IRS collaboration with blockchain nonprofits to facilitate US domiciliation.
Uniswap Governance, described as “one of many largest and most lively DAOs on this planet,” has proposed adopting the DUNA construction as a take a look at case for the broader ecosystem. The coalition argues this represents a milestone demonstrating that compliance and decentralization can coexist inside US authorized frameworks.
Eighteen organizations co-signed the letter, together with established entities equivalent to Polygon, Tally, and the Blockchain Affiliation, alongside newer gamers like ZKsync, Morpho, and the Solana Coverage Institute.
The varied coalition spans infrastructure suppliers, DeFi protocols, enterprise funds, and coverage advocacy teams.
Aggressive menace
The signatories emphasised the aggressive menace posed by different jurisdictions actively courting blockchain organizations.
The letter warns that continued regulatory ambiguity dangers pushing innovation away from US markets as world opponents set up clearer frameworks for decentralized entities.
The coalition requests three particular federal actions: recognition of good-faith DAO compliance efforts, engagement with communities piloting frameworks like DUNA, and provision of federal pathways, together with protected harbors, interpretive steerage, or tailor-made rulemaking.
The letter concluded:
“With considerate collaboration, we are able to be certain that the U.S. stays a house for internet-native innovation rooted in transparency, compliance, and open participation.”
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