The Across protocol has proposed a plan to convert $ACX tokens into equity, a move criticized for restricting ownership to accredited US investors for holdings under 5M ACX. This conversion would result in ACX no longer being freely tradable on decentralized exchanges (DEXs), potentially shifting future liquidity toward traditional finance. The proposal stems from leadership's belief that the token is undervalued and that operating as a DAO without a legal entity hinders business development.