Will ApeCoin and Yuga Labs make the regulators go ape?

The legal entity that exists to implement the ApeCoin DAO’s decisions is something called the Ape Foundation, which is based in the Cayman Islands. “Wrapping” a DAO in a legal entity so it can interact with off-chain assets isn’t that unusual, says Erich Dylus, a lawyer who helped create a similar foundation for API3 DAO. The DAO itself isn’t really a legal entity, but the foundation is.