Exogenous governance refers to decision-making processes and structures influenced by external factors outside the blockchain network itself. This can involve regulatory bodies, traditional financial institutions, or other external entities that shape the rules and norms for how a cryptocurrency operates.In practice, exogenous governance can take various forms, such as laws enacted by governments or guidelines set by industry organizations. These external influences can affect how decentralized networks function, impacting aspects like compliance, user behavior, and overall market dynamics.While blockchain technology often emphasizes decentralization, exogenous governance introduces a layer of external authority that can sometimes conflict with the principles of autonomy and self-governance that many cryptocurrencies promote. It highlights the tension between maintaining decentralized control within a network and adapting to external pressures and regulations. Understanding exogenous governance is crucial for users and developers alike as they navigate the complex interplay between technology, regulation, and market forces.