American CryptoFed Withdraws Locke Token Filing Amid SEC Regulatory Uncertainty

American CryptoFed retracts its Locke token registration, leaving the project without a clear path to launch its proposed inflation-free monetary system under current SEC rules.

Woofun AI reports that American CryptoFed has withdrawn its filing for the Locke token, halting plans to launch a token-based monetary system intended to replace fractional reserve banking. The organization aims to operate without inflation or transaction costs, with Ducat serving as the payment token contingent on Locke sustaining a value of $0.10 USD.

However, the withdrawal leaves the project without a registration route and without a definitive ruling on whether the tokens constitute federal securities. Previously, the SEC dismissed administrative proceedings in February 2026 after accepting an earlier withdrawal attempt, but expressed no opinion on the securities status of Locke or Ducat. Consequently, any future registration efforts must address staff concerns or await formally adopted regulatory exemptions.