American CryptoFed DAO seeks US SEC consent for stable utility tokens

The Wyoming-based digital asset company has filed Form 10 and Form S-1 for registering and trading Locke and Ducat tokens. Read the full article by: Arijit Sarkar

Key Points:

• CryptoFed DAO has submitted forms to give their two stablecoins, Locke and Ducat, the ability to be traded and transferred. They also submitted another form to the SEC to be automatically recognized as a DAO.

• The forms suggested that CryptoFeds stablecoin Ducat will be inflation and deflation protected. Locke will be used for governance and stabilizing Ducat.

• Gary Gensler, the SEC chairman, is urging all crypto projects offering securities to register their firms with the authorities. Gensler also said that “crypto can be a “catalyst for change” for the financial sector.”