Web3 Lawyers: Less Intimidation, More Constructive Guidance

Compliance in Web3 should start from the very beginning.

A few days ago, several students from the Blockchain Association of East China University of Political Science and Law (ECUPL) visited Mankun Law Firm for an exchange. We discussed the current state of Web3 industry development both domestically and internationally, China’s regulatory policies and encouraging stance toward virtual currencies and blockchain development, and, importantly, what legal professionals and lawyers can contribute to this industry.

What impressed me most during our discussion was their initial assumption that, as lawyers specializing in the Web3 industry, our primary role was to assist clients with “criminal defense,” handling criminal cases involving illegal fundraising, fraud, and pyramid schemes related to virtual currencies. After our conversation, they realized that the role of law in this field extends far beyond these areas.

I asked them why they held such an impression. They explained that most lawyers they encountered online tended to focus exclusively on criminal risks when discussing virtual currencies—whether illegal fundraising, fraud, or pyramid schemes—creating the perception that the industry was a breeding ground for crime and something to be avoided at all costs.

As an ECUPL alumnus, Lawyer Liu Honglin of Mankun Law Firm had suggested several years ago that ECUPL students establish a blockchain association. The idea was to help students gain a preliminary understanding of what blockchain is and what it can do, and more importantly, to identify how it might align with their career paths. Given the challenging job market for recent graduates, especially for law students, this seemed particularly relevant. It is somewhat regrettable that this suggestion remained unacted upon for several years, until recently, when students from ECUPL’s Business School took the initiative to establish such an association.

It seems that faculty and students in the Law School largely remain at the level of“This carries risks,”whereas those in the Business School have already recognized thecommercial potential within Web3.

Following our exchange, the students felt that we differed significantly from traditional law firms. Many lawyers habitually emphasize risks, portraying industry issues in an overly severe light. In contrast, we focus more on sharing the latest industry trends, demonstrating how law and business can be better integrated, and helping entrepreneurs find compliant pathways. They noted that this perspective was highly beneficial, especially for those considering blockchain as a future career direction, as it highlighted more positive aspects of the industry.

In fact, this sentiment is not unique to ECUPL students. Many Web3 entrepreneurs and friends who have interacted with Mankun lawyers share similar views. They often complain to me about certain “intimidation-focused” lawyers online, feeling that these lawyers overly rely on criminal risks to scare people, as if fear were the only way to capture their attention. Entrepreneurs jokingly ask, “Do lawyers believe that only by scaring us will we seek their services?” In reality, what most entrepreneurs care about ishow to build their projects in a compliant manner,mitigating risks rather than constantly hearing “there are risks here, and risks there.”

After all, apart from those projects deliberately designed as quick cash-grab scams, the vast majority of Web3 entrepreneurs hope to develop their projects legally and compliantly. Therefore, they naturally do not wish to be bombarded daily with negative information, which creates significant psychological pressure.Recently, I saw a WeChat Moments post shared by Jiayin from Bitget, in which he mentioned that during a job interview at a major traditional internet company, he was told, “You are quite outstanding, but unfortunately, you have a tainted background in blockchain.” This illustrates the powerful impact of persistent negative narratives online...

This is precisely why Mankun Law Firm adheres to the philosophy of “making friends with Web3 practitioners.” After all, if you truly approach relationships with the mindset of friendship, you would not constantly intimidate your friends but would instead seek ways to help them.

We believe that law serves not only to mitigate risks but also to help friends in the Web3 industry find pathways for development. In this industry, we advocate for “less intimidation, more constructive guidance.” Taking Mankun Law Firm’s ongoing publication of Web3 legal education articles and research as an example, I have consistently provided three guiding principles to our new media team:

1. Avoid sensationalist headlines and do not intimidate clients. Many lawyers attract clients by exaggerating risks, but this approach is only effective in the short term and may undermine clients’ trust in legal advice over time. We aim to win clients through authentic, professional recommendations rather than by seeking attention through fear.

2. Content must be written for clients. Our articles and content must be accessible and easy to understand, avoiding excessive legal jargon that confuses clients. After reading our advice, clients should clearly understand what actions they need to take, rather than being left bewildered.

3. Provide practical advice to clients. We do not merely tell clients “what not to do”; more importantly, we guide them on “what to do.” Clients seek solutions to their problems through our assistance, rather than being left hesitant and uncertain amidst legal minefields.

These principles are precisely why Mankun lawyers are attracting an increasing number of friends and clients within the Web3 community. We not only help clients resolve immediate issues but also support them through legal guidance to identify sustainable development paths. We also openly share our compliance research and practical experience with fellow lawyers, for no other reason than that, in jointly promoting the compliant development of the industry, we are not competitors but companions on the same journey.

We may not be able to make the world a better place, but we can prevent this industry from becoming worse. We also call on more Chinese lawyers to adopt the approach of “less intimidation, more constructive guidance,” as this is key to promoting the long-term, healthy development of the Web3.0 industry in China. Only through our clients’ success can we, as commercial service lawyers, achieve our own success.

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Web3 Lawyers: Less Intimidation, More Constructive Guidance

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