Major Governance Platform Tally Announces Shutdown Amid Regulatory Shifts

The regulatory climate in the US is shifting, and although many consider it for the better, the changes are already taking effect.

Tally, a governance tooling platform that’s used by more than 500 decentralized autonomous organizations (DAOs), including Uniswap, Ethereum Name Service (ENS), and Arbitrum, announced that it will be shutting down after more than five years of operations.

In a video posted on X, the CEO of Tally, Dennison Bertram, outlined some reasons for the decision to wind down operations.

The move comes just as the SEC and the CFTC issued joint guidance clarifying that most cryptocurrencies are not securities, a major de-risking event for the entire industry.

While the previous administration pushed many projects toward a decentralized structure in the form of a DAO to reduce legal risk, the current, more relaxed environment has reduced demand for DAO governance, as Wu Blockchain noted in its commentary on the news.

Tally will not be conducting an ICO. Bertram said that continuation plans are already in the works with all of the firm’s enterprise clients, while the interface will remain operational for them as needed.

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