The latest research report from the European Central Bank begins to question the decentralization quality of DeFi DAOs, contemplating how to squeeze this tough nut into the regulatory framework of MiCA.
The regulators really enjoy this tactic, unable to tolerate anyone having fun in the "lawless land." The logic is quite simple: as long as you have a management committee and a backend that can modify the code, they will determine that you are not truly decentralized. If this standard is applied, 90% of the DAOs on the market will be forced to don compliance vests, and the compliance costs and barriers will likely skyrocket. This wave represents a typical regulatory power expansion, and Europe is resolutely determined to turn the crypto space into a beautifully renovated cage; the so-called narrative of "autonomous driving" is about to be harshly challenged by reality.