I wonder if even their methods are dancing around US securities laws, but I don't fully understand how cooperatives overlap with securities laws [0]. Despite t

I wonder if even their methods are dancing around US securities laws, but I don't fully understand how cooperatives overlap with securities laws [0]. Despite that, I like what seems to be their intention around cooperatively-owned research, so I'll try to follow them to see what comes of it. Thank you. edit: Also, maybe one of the problems is that the internet is global and most regulation is at most national, so even if it were to break US laws, does it break other national, regional, or local laws? Do DAOs and crypto lead to some larger global form of governance? [0]: https://www.casebriefs.com/blog/law/securities-regulation/securities-regulation-keyed-to-coffee/definitions-of-security-and-exempted-securities/reves-v-ernst-young-2/ https://www.casebriefs.com/blog/law/securities-regulation/se...