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 <h2 id="china-s-blockchain-dao-in-soup">China’s Blockchain DAO In Soup</h2> 
 <p>This pivotal event has instigated the Mankiw Lawyer Team to undertake a comprehensive investigation, to uncover the truth and enhance regulatory compliance within the industry. While <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a>s symbolize an ideal society with a free spirit, borderless collaboration, and distribution according to work for many blockchain practitioners, this case has spotlighted the overlooked legal risks, especially those involving criminal offenses.</p>  
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 <p><a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a>s, recognized for their decentralized operation model, allow members to participate in the decision-making process transparently without any centralized authority. However, some <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a> operations involve legal and criminal dangers.</p> 
 <p>First off, their fundraising practices, which may involve the sale of community points or NFTs, may amount to crimes including fraudulent financial transactions, illegal securities issuance, and pyramid schemes. <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a> tokens frequently serve many purposes, including fund-raising, voting rights, and revenue-based payouts, all of which may occasionally be considered illegal under Chinese law.</p>  
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 <p>Second, there are additional legal dangers due to the decentralized, international character of <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a>s. To increase their influence, some <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a>s employ a head-pulling approach with tier-based rewards. Similar to pyramid schemes, which are against the law in China, these practices are similar to them.</p>  
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 <p>Also Read: X Using Stripe For Creator Payments; Crypto Coins Next?</p> 
 <h2 id="more-need-for-regulation">More Need For Regulation?</h2> 
 <p>The legal dangers that <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a> groups in China confront have become quite apparent as a result of this episode. It serves as a reminder to the industry of the importance of compliance and regulation to ensure the long-term development of <a rel="noopener noreferrer nofollow" title="DAO" href="https://thebittimes.com/tag/dao.html">DAO</a>s and the larger blockchain business.</p> 
 <p>Also Read: Cardano Hydra Scaling Protocol Gets Much Needed Updates</p> 
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Crackdown In China’s Blockchain DAO Organization With Core Members Arrested

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TheBitTimes

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