American CryptoFed Withdraws Second Locke Token Registration Attempt

Wyoming-based organization American CryptoFed has withdrawn its second attempt to register the Locke governance token, citing material failures in its disclosure filing by US Securities and Exchange Commission (SEC) staff.

The withdrawal request was submitted on August 3, preventing the Form 10 registration statement from becoming effective automatically on August 15 while the staff's concerns remained unresolved.

American CryptoFed operates as a Wyoming nonprofit unincorporated association and describes itself as the successor to American CryptoFed DAO LLC. Its network is designed to address what it considers structural weaknesses in fractional reserve banking.

The organization proposes replacing this structure with a token-based monetary system intended to operate without inflation, deflation, or transaction costs while supporting maximum employment. Locke would function as the governance token within that system, while Ducat would be used for payments. No Locke tokens had been issued, granted, or sold when American CryptoFed withdrew the filing.