Yearn DAO Legal Activism Gains full Support as Crypto Regulations Intensifies

Sahaj  |  Aug 9, 2021

As revealed recently, the popular decentralized finance project Yearn has proposed to fund a builder-first legal activism decentralized autonomous organization (DAO) amid the intensification of crypto regulations. This happened while the crypto community is fighting against the controversial bipartisan infrastructure bill that overreaches its definition of the term broker in regards to the crypto tax provision.

Yearn DAO gets full Support as Crypto Regulations Hardens

As per the official details regarding the project, it said:

“LeXpunK_DAO will mix long-term strategic advocacy campaigns with rapid-response ‘guerilla lawfare' raids.”

So far, the submitted proposal has managed to get 100% support from its holders in the light of the ongoing regular inspection and it reads:

​​”Growing mainstream awareness of DeFi is coinciding with institutional outrage over the “Wall St. Bets” phenomenon and political change in the United States to brew a perfect storm of aggressive legal threats against DeFi.”

In addition to this, the proposal noted that Gary Gensler, the SEC Chair has warned about Defi platforms, CFTC Commissioner Dan Berkovitz found it incompatible with the policies, how media is calling Defi a shadow financial market, and much more. It said:

“The time is now. Let's do crypto law the crypto way.”

Hayden Adaman of Uniswap calls out the Detractors of DEF

While all of this is going on, the Creator of Uniswap, Hayden Adaman, took it to Twitter to call out the detractors of the Defi Education Fund (DEF), proposed by the DEX. He said:

“Is anyone still mad $20m (out of a $10b treasury) that was sent to the fund which has the goals to challenge misguided regulatory, legal, and political threats, achieving regulatory clarity, advancing laws that support DeFi, and spurring other DeFi protocols’ governance bodies to contribute to the effort?”

This became the cause of a lot of drama last month when the community got upset about the lack of broad involvement as a few hefty voters skewed the decision.

Related News