The Legal Status of DeFi Governance Tokens: Analyzing the Equity and Regulatory Challenges of Decentralized Finance ⚖️

The governance tokens of DeFi protocols, which grant voting rights and potential profit rights, bear functional similarities to traditional equity. Recently, the Office of the Comptroller of the Currency (OCC) approved charter applications from trust banks, including Ripple and BitGo, indicating that traditional financial regulation is gradually penetrating the crypto space.

**Core Controversy:** Should governance tokens be considered securities and subjected to the same legal status and regulation as equity? This raises a collision between the spirit of decentralization and traditional legal frameworks. On one hand, providing governance tokens with a clear legal status helps protect the rights of holders; on the other hand, it may increase regulatory complexity and even stifle DeFi innovation.

**Legal and Economic Perspectives:** How should the voting rights and profit rights of governance tokens in DAO governance structures be defined and protected legally to accommodate their decentralized characteristics? Looking forward to your professional interpretation. #DeFi Governance #监管前沿