Johnny Ng Kit-Chong, a legislator in Hong Kong, is pushing the government to regulate Decentralized Autonomous Organizations (DAOs) as a way of enhancing and growing the Web3 ecosystem. This comes after a landmark court ruling where the Mantra DAO raised pertinent questions on the ownership, governance and transparency of these innovative entities.
According to Monin Ung, an attorney, the accountability of Mantra DAO declined significantly in January 2021 after RioDeFi, the plaintiff, hired people to…
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