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Crypto proponentsGizmodo
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77% Informative
Lido DAO, one of web3 ’s largest decentralized autonomous organizations, is being sued in a class-action lawsuit that accuses it of having sold unregistered securities.
A federal judge shot down that argument this week , maintaining that Lido is, indeed, a “legal entity” and, therefore, must be subject to the same laws and regulations.
The Lido case revolves around another such legalistic quandary.
A16z, a16z crypto’s General Counsel and Head of Decentralization, criticizes the decision.
The Securities and Exchange Commission has repeatedly referred to various crypto assets as securities.
By contrast, crypto proponents have likened it to gold, a resource of relative scarcity.
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