A powerful coalition of cryptocurrency organizations, spearheaded by the Uniswap Foundation, is urging Treasury Secretary Scott Bessent to establish a clear federal legal framework for decentralized autonomous organizations (DAOs). This initiative addresses the pressing issue of legal uncertainty that has historically pushed blockchain innovation away from U.S. shores, advocating for a model that balances compliance with the core tenets of decentralized governance.
Addressing Legal Ambiguity with DUNA
The coalition's core proposal, articulated in a recent letter, champions the federal recognition of Wyoming’s Decentralized Unincorporated Nonprofit Association (DUNA) framework. Signed into law in 2024, the DUNA framework offers a robust solution by allowing DAOs to operate with legal clarity, engaging in contractual relationships, managing treasury funds, and meeting tax obligations, all while protecting token holders from personal liability. This bipartisan-supported framework, endorsed by figures like Senator Cynthia Lummis, is seen as a crucial step towards building the necessary legal foundations for American innovators. Uniswap Governance, one of the world's largest DAOs, has even proposed adopting the DUNA structure as a practical test case, demonstrating how compliance and decentralization can coexist within U.S. legal parameters.
A Unified Call for Federal Action
The coalition, comprising 18 significant entities including Polygon, Tally, the Blockchain Association, ZKsync, and the Solana Policy Institute, emphasizes the critical competitive threat posed by other nations actively developing clearer regulatory landscapes for blockchain technology. They warn that continued U.S. regulatory ambiguity risks ceding innovation leadership to global competitors. To counteract this, the signatories have requested three specific federal actions: formal recognition of good-faith DAO compliance efforts, active engagement with communities piloting frameworks like DUNA, and the establishment of federal pathways such as safe harbors, interpretive guidance, or tailored rulemaking. This concerted effort underscores a commitment to ensuring the U.S. remains a vibrant hub for internet-native innovation, fostering an environment rooted in transparency, compliance, and open participation.
