Dual specificity phosphatase able to dephosphorylate phosphotyrosine, phosphoserine and phosphothreonine residues within the same substrate, with a preference for phosphotyrosine as a substrate (By similarity). Involved in the modulation of intracellular signaling cascades. In skeletal muscle regulates systemic glucose homeostasis by activating, AMPK, an energy sensor protein kinase (PubMed:30201684). Affects MAP kinase signaling though modulation of the MAPK1/2 cascade in skeletal muscle promoting muscle cell differentiation, development and atrophy (PubMed:32639872). H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate H2O + O-phospho-L-seryl-[protein] = L-seryl-[protein] + phosphate H2O + O-phospho-L-threonyl-[protein] = L-threonyl-[protein] + phosphate Homodimer (By similarity). Interacts with PRKAA2 (PubMed:30201684). Skeletal muscle, liver and adipose tissue. Up-regulated during muscle cell differentiation. Deletion of the long non-coding RNA (lncRNA) H19 leads to a decreased DUSP29 expression in muscle (at protein level). Down-regulated in muscle of high-fat diets-induced glucose-intolerant mice (PubMed:30201684). Induced during neurogenic skeletal muscle atrophy (PubMed:32639872). Belongs to the protein-tyrosine phosphatase family. Non-receptor class dual specificity subfamily.