DAO Tooling CEO Says the ‘Regulatory Excuse’ for Tokens That Return No Value Is Going Away
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Securities law is losing its force as the reason crypto projects give for governance tokens that return nothing to holders, Ben DiFrancesco, founder and CEO of ScopeLift, said on Uneasy Money. He thinks that shift brings “increased scrutiny” for teams that could return value to their tokens but don’t. ScopeLift took over the Tally governance platform in March and renamed it Cactus in June. In the episode, recorded Oct. 7, DiFrancesco said fear of regulators shaped a generation of tokens built with no dividends and no buybacks. Promising either meant “you were at serious risk of violating securities law,” he said. “Now, the good news I think is that that’s changing, right?” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
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