logo
welcome
About us
Newsletter
News Widget
Media Inquiries

Summary

Lido Sues for Unregistered Securities

This is a news story, published by Gizmodo, that relates primarily to Lido news.

Lido news

For more Lido news, you can click here:

more Lido news

crypto trading & speculation news

For more crypto trading & speculation news, you can click here:

more crypto trading & speculation news

Gizmodo news

For more news from Gizmodo, you can click here:

more news from Gizmodo

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like crypto trading & speculation news, you might also like this article about

crypto organizations

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest crypto industry news, crypto news, crypto trading & speculation news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

Crypto proponents
Gizmodo

Gizmodo

•

Judge Rules Decentralized Autonomous Organizations Arenât So Decentralized in the Eyes of the Law

Gizmodo
Summary
Nutrition label

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.

VR Score

71

Informative language

65

Neutral language

58

Article tone

semi-formal

Language

English

Language complexity

71

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

14

https://www.cftc.gov/sites/default/files/2019-12/oceo_bitcoinbasics0218.pdfhttps://www.womenwhocode.com/blog/dao-a-revolution-in-organizational-structurehttps://ir.law.fsu.edu/cgi/viewcontent.cgi?article=2778&context=lrhttps://beincrypto.com/lido-dao-governance-under-fire/https://whitman.syracuse.edu/about/newsroom/whitman-news/news-detail/2023/02/03/in-the-news-and-trending-decentralized-autonomous-organizations-(daos)-what-are-they-and-why-are-they-potentially-changing-the-way-businesses-are-governedhttps://www.coindesk.com/learn/securities-vs-commodities-why-it-matters-for-crypto/https://montague.law/blog/is-crypto-a-security-or-commodity/#:~:text=The%20SEC%20sees%20cryptocurrencies%20as,the%20oversight%20of%20both%20agencies.https://storage.courtlistener.com/recap/gov.uscourts.cand.422388/gov.uscourts.cand.422388.115.0.pdfhttps://cointelegraph.com/news/howard-lutnick-urges-bitcoin-commodity-status-regulatory-action#:~:text=Cantor%20Fitzgerald%20CEO%20Howard%20Lutnick,similarities%20to%20gold%20and%20oil.&text=Cantor%20Fitzgerald%20CEO%20Howard%20Lutnick%20appeared%20on%20Fox%20Business%20on,similar%20to%20gold%20and%20oil.https://news.bloomberglaw.com/securities-law/community-run-crypto-project-tests-legal-standing-by-forming-llchttps://x.com/milesjennings/status/1858720755523219932?t=WVEizNBZg55YTB11jfCgNQ&s=19https://cointelegraph.com/news/sec-labels-61-cryptocurrencies-securities-after-binance-suithttps://docs.lido.fi/https://scholarship.richmond.edu/cgi/viewcontent.cgi?article=3405&context=lawreview

Source diversity

13

www.cftc.govwww.womenwhocode.comir.law.fsu.edubeincrypto.comwhitman.syracuse.eduwww.coindesk.commontague.lawstorage.courtlistener.comcointelegraph.comnews.bloomberglaw.comx.comdocs.lido.fischolarship.richmond.edu

Affiliate links

no affiliate links

Read full article