UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

ADMINISTRATIVE PROCEEDINGS RULINGS

Release No. 6904/May 4, 2023

ADMINISTRATIVE PROCEEDING

File No. 3-21243

In the Matter of :

:

THE REGISTRATION STATEMENT OF : ORDER

AMERICAN CRYPTOFED DAO LLC :

The Securities and Exchange Commission instituted this proceeding with an Order Instituting 

Proceedings on November 18, 2022. The proceeding is a stop order proceeding, authorized pursuant to Section 

8(d) of the Securities Act of 1933. As the Commission ordered, the hearing before the undersigned 

Administrative Law Judge in this proceeding commenced at 10:00 a.m. EST on December 1, 2022. Hearing 

sessions were held on December 1, 2, and 6, 2022, and January 18 and 19, 2023, and the hearing was closed. 

Under consideration is Respondent American CryptoFed’s unopposed motion to correct the hearing transcript.

Respondent’s motion will be granted, and the hearing transcript corrected as reflected in the Attachment.

IT IS SO ORDERED. 

/S/ Carol Fox Foelak 

Carol Fox Foelak

Administrative Law Judge
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ATTACHMENT

page:lines Original Text with Strikeouts Corrected Text with Insertions

12:23-24 to go forward, the general 8(d), 8(e) versus the

specific 8(e).

to go forward, the general 8(d), versus the

specific 8(b).

163:17-18 the reviewing process. So, you can issue a review

order and, Mr. Dobbie, since this review order is

the reviewing process. So, you can issue a refusal

order and, Mr. Dobbie, since this refusal order is

355:16 versus the 8(d) which is a refusal -- with the versus the 8(b) which is a refusal -- with the

560:9-10 would set the combined to render the economic system

less efficient to induce -- introduce in all markets

would set combine to render the economic system

less efficient to introduce frictions in all markets

561:17-18 suggests that monetary origin and focuses

respondents across both space and time between

suggests that monetary origin and the close

correspondence across both space and time between

561:21 contradictory monetary shocks. There’s also a high contractionary monetary shocks. There’s also a high

597:4 key one. 15.2. key one. 16.2.

619:25 create any money. I will prove to you through this raise any money. I will prove to you through this

637:7 MR. ZHOU: Exhibit 27, two. MR. ZHOU: Exhibit 272.

639:13 playing on the face of the statement. plain on the face of the statement.

639:15 So, here it's important, it’s only So, here it's important, it’s plain

639:21 points only and on the face of the statement to points only, plain and on the face of the statement to

641:9-10 deficiencies -- material deficiencies only to

surface. And in section B -- Section E -- E -- B

deficiencies -- material deficiencies on the

face. And in section B -- Section B -- B -- B

652:21 it is utterly repugnant to the objectors of the Act it is utterly repugnant to the objectives of the Act

657:3 concept. consent.

666:4 They don’t allow you to E. They also do -- do not They don’t allow you to be. They also do -- do not

736:14 revenue when OS, the entity, set aside a revenue when (or as), the entity, satisfies a

744:3-5 For that purpose, we -- MShift should

receive five percent allocation of Locke, okay.

MShift will do that. However, now the IP can

For that purpose, we -- MShift

receives five percent allocation of Locke, okay.

MShift will do that. However, now the IP cannot
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753:16 important question. In the future you -- you important question. In the future you do not

762:6-8 Money by mutual concept, that’s a

Blockchain. We learn from John and people not by

coercion are centralized the federal research or

Money by mutual consent, that’s a

Blockchain. We learn from John and The People not by

Coercion, as centralized the federal reserve or

762:19 support of life. That's to purchase goods and supports of life. That's to purchase goods and

762:22 do this. So, this is describe money. What -- do this. So, this is describes money. What --

782:1 target equivalent exchange rate between Ducat and Target Equilibrium Exchange Rate between Ducat and

794:2-7 CitySnap: The first in a decentralized

governance tool suite for the Gnosis safe.

Combining the Gnosis safe would decentralize

government platform SnapShot. SafeSnap enables

decentralized execution of crypto governance

proposals through on-chain exchange of off-chain

SafeSnap: The first in a decentralized

governance tool suite for the Gnosis Safe.

Combining the Gnosis Safe with decentralized

governance platform SnapShot, SafeSnap enables 

decentralized execution of crypto governance

proposals through on-chain execution of off-chain

794:12 finances on Ethereum has occupied the forefront finance on Ethereum has occupied the forefront

794:17 Ethereum echo system. Ethereum ecosystem.

794:21-23 Decentralization. Centralized teams seeding

control of their creations to their community,

user base token holders.

Decentralization. Centralized teams ceding

control of their creations to their community /

user base / token holders.

795:5 And then, we need real processes easy control by And then, we need real processes easily controlled by

796:5 called Realty ETH -- dot ETH. This software is called Reality ETH -- dot ETH. This software is

796:10 doing visibility study. doing feasibility study.

796:11 So, we have a DAO mojo and they say, So, we have a DAO module and they say,

796:13 someone need to improve this, say yes or no. someone need to approve this, say yes or no.

796:20 correct the results. So, this is crowded sources correct the results. So, this is crowdsourced

799:14 And we do not have open account systems returns And we do not have overly consistent returns

806:13 graphically. We did that and the SEC stopped us. gradually. We did that and the SEC stopped us.

849:6 will be used to buy back Block, right? will be used to buy back Locke, right?