0xhakibil
@0xhakibil
The U.S. District Court for the Northern District of California rejected Lido’s claim that it was not a legal entity and determined that Lido participants profited from governance and operations and could not avoid liability. Although Lido did not sell tokens directly, its advertising and promotion of tokens through cryptocurrency exchanges was considered a securities sale. This case sets a new legal precedent for the legal status of DAOs and the liability of their members.
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