Greetings!

My name is Master Li, I am a Chinese crypto lawyer and the Sponsor of an organization called LegalDAO.

LegalDAO is a DAO dedicated to establishing and maintaining NATIVE Justice and Order in the Crypto World.

We believe that the "Laws" of a decentralized Crypto World should be "Bottom-up" made by crypto citizens, not imposed by traditional sovereign states.

In light of the recent Tornado Cash incident, we hope to unite the entire Crypto World to jointly develop a Code of Conduct for Privacy Protection in the Crypto World.

Pls find attached our proposed Initiative and Action Plan. We have invited dozens of elite tech companies, investment institutions and law firms on board!

We would really love to invite you to join us. We would be honored to have crypto leaders to join our cause. Together, we may build a better Crypto World, or maybe a better World.

Thank you for your attention and support!

Master Li

2022.9.

1.  Initiative - Let's "make the LAW" for Crypto World

How to define Tornado Cash?

It is undeniable that it facilitates the money laundering activities of a large number of hackers and other illegal organizations, which makes the recent sanctions imposed by the US government legally justified.

But is it an evil code? Is its developers an evil organization? No one wants their funds to be monitored by others, and privacy is a basic human right. We have seen a large number of people who use Tornado Cash in an unharmed manner be innocently implicated by this sanction. The basic human need for privacy should not be exploited by criminals, it should also not be overlooked simply because of the existence of criminals

No one likes hackers, especially the participants of the crypto world. For a long time, the crypto world has been filled with the cloud of "Hacker is Law". Countless investors have suffered heavy losses, and a large number of phishing messages and attacks have continued to succeed. "Crypto citizens" are attracted into this world by the decentralized ideology, an advanced version of human society, but decentralization does not equal chaos, much less a breeding ground for crime and greed. The crypto world needs order urgently.

But should we expect sovereign states to build this order for us? Rules are the foundation for Order. So which rules should the crypto world follow? American? Singaporean? European Union ‘s? Or perhaps a set of international rules made by countries all over the world for a borderless crypto world? When we see a state agency sanctions an "entity" so rudely in order to protect their national interests, we should know that the regulatory rationale of sovereign states is essentially contrary to the ideology represented by the crypto world, and sovereign states cannot "spare" us an orderly Web3.

LegalDAO has always believed that the rules of the crypto world should be Bottom-up Made, condensed from the consensus of the participants in the crypto world. We believe that Consensus is Law.

In order to establish a native order for the crypto world, LegalDAO calls on and invites participants to join us in writing a code of conduct for privacy protection in the crypto world. We propose that this code of conduct should be drafted in the following ways.

2.     Action Plan - "LAW-making" Procedure

2.1"Draft Proposal Stage" - LegalDAO's Partners

（1）Partners providing Draft Proposal

We will invite global law firms, security companies, privacy service companies, DID companies, public blockchain, crypto exchanges, crypto wallet companies, and other ecological partners to provide their proposal.

·       Please note that we do not require every partner to provide a draft in a legal professional manner.  We want to see your opinions and suggestions following your professional background and industry demands.

Here are some issues that we think are worth discussing:

·       The right of privacy for crypto citizens;

·       How Crypto Projects should protect users' privacy;

·       The legal form for a privacy services provider (company? DAO? smart contract?);

·       Steps privacy service providers should take to prevent and combat hacking and money laundering;

·       How privacy service providers should engage with national governments;

·       Obligations of privacy service providers to the crypto world;

·       Other opinions and suggestions related to privacy protection.

（2）Store your Proposals on chain

To record this milestone event, we will put all the draft proposals of all partners on the chain.

（3）LegalDAO summarizes the Proposals and prepares the Draft

LegalDAO will summarize all the proposals and prepare the Draft Code of Conduct.

（4）Group discussion - Voting - Minority opinions reservation

LegalDAO will organize group discussions to discuss specific issues from time to time.

For certain contradictory issues, LegalDAO will make all partners vote together (more than two-thirds (inclusive) of the total number of partners shall prevail). Minority opinions will also be reserved and made public.

（5）Joint Announcement

LegalDAO will work with all partners to expand the influence of this campaign and attract more crypto citizens to participate.

（6）Disclaimer for Partners

Partners are free to express any disclaimer. For example, law firms can emphasize that their proposals do not constitute legal opinions, etc.

（7）How to work together

We will collaborate via email.

（8）Result for this Stage

In this Stage, we will produce a "Code of Conduct for Privacy Protection in the Crypto World" (draft).

2.2 Open up to the Crypto World - the participation of all Crypto Citizens

As we have emphasized earlier, the laws of the crypto world should be bottom-up made by all crypto citizens. After completing the "Code of Conduct for Privacy Protection in the Crypto World" (draft), we will open it to all participants in the crypto world and invite everyone to participate in the legislative work

The implementation procedures are to be determined.

2.3 The Crypto World Voting

The Crypto World should be a vast DAO organization. Crypto Citizens should vote on the Law.

Our result should be a Web3-native "Privacy Protection Code of Conduct in the Crypto World" that aggregates the consensus of all crypto citizens. When our voices are strong enough, we will make them listen.

3.     LegalDAO and its Missions

LegalDAO is a DAO that brings global lawyers and enthusiastic participants together to build NATIVE justice and order for the Crypto World.

The Four Mission of LegalDAO are:

·       “World Law Firm” for Web3

·       “World SEC” for Web3,

·       “World Arbitral Institution” for Web3

·       “Batman” for Web3

LegalDAO was sponsored in April 2022. Currently, LegalDAO has more than 300 contributors worldwide, including lawyers, legal scholars, engineers, entrepreneurs, investors, artists and young talents.

The on-going projects of LegalDAO:

Ø  The DeReg (Decentralized Self-Regulation System): we are building a protocol that allows all “Crypto Citizens” to become the regulators of the Crypto World.

Ø  The DeLawyer: we are working with a zkDID company called “zCloak” to build an identification system for global lawyers. A peer-to-peer DID system for the CryptoWorld is essential for upholding the Justice and Order.

Ø  Legal Espresso: providing compliance tips, legal analysis, interesting notes and other useful information for the Crypto Citizens.

Ø  Web3 Debate Competition: truth can be gleaned from lively debates, and consensus is usually formed in the midst of discussions and arguments.

Ø  Legal Guide for Web3 Investment (Chinese): providing legal guide and templates for Chinese web3 funds and start-ups.

Ø  Batman project – AssangeDAO: we units lawyers for several jurisdictions to help damaged investors of AssangeDAO to file lawsuit pro bono.

Founding Members of LegalDAO:

Master Li: Founder, Sponsor of LegalDAO, Lawyer (Legalband 30u30), Serial Entreperneur (Geekpark Frontier Founder), CUPL and EUR(NL) Graduated.

Alon Lin: Co-founder, Leader of Community Middle Office, Product Expert, former Weibo and BlueD.

Richard Yang: Co-founder, Marketing & Operating. Sociology major at Pepperdine University (gap). Founder of “Betopia,” an international student union with members from more than 13 countries and 50 top universities worldwide.

Sherry Yang: Co-founder, Community Operating & Governance; Web3 Researcher and Sociologist; Web2 Product Manager; Fudan Uni.

Turing: Finance, Strategic & Technology Coordinator, PKU Engineering Management Master, Rich experience in crypto VC.

Thank you for joining us. Together we build Justice and Order for the Crypto World!