Popular decentralized crypto exchange SushiSwap is mulling a revamping of its legal structure, an effort with potentially greater potency amid increased regulatory scrutiny of crypto projects governed by so-called decentralized autonomous organizations (DAO).
SushiSwap, whose DAO token holders decide on everything from leadership to artist grants, was advised this month to divvy itself up into a trio of legal entities based in Panama and the Cayman Islands. The new structure proposed by law firm Fenwick & West LLP would “mitigate risk,” according to a write-up posted Sept. 22 in SushiSwap’s governance forum.
Governing crypto trading infrastructure via such investment collectives has never been riskier. Last week, the Commodity Futures Trading Commission sued Ooki DAO for alleged violations of U.S. investment laws, seemingly targeting everyone who votes in that DAO – undermining the notion that “decentralization” can shield DAO members from liability.
The robust participation in...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...