The SEC is being urged to reconsider its approach to regulating decentralized autonomous organizations (DAOs), with groups arguing that certain DAOs, if sufficiently decentralized, should not be subject to the Howey test. This call for a hands-off approach comes amid broader shifts in US crypto policy. The Trump administration’s embrace of crypto has been notable, reversing Biden-era restrictions on cryptocurrency investments in retirement plans and even signaling support for blockchain innovation. Former SEC lead Paul Atkins echoes this sentiment, expressing less aggressive enforcement and emphasizing the importance of technological progress. However, concerns remain about potential conflicts of interest arising from the Trump family’s involvement in crypto ventures. Meanwhile, former CFTC Chair Rostin Behnam advocates for expanded CFTC authority to regulate the crypto market, arguing that it falls outside the SEC’s jurisdiction. These conflicting views highlight the ongoing debate over regulatory approaches to DAOs and digital assets.