how does this structure work? are DAOs legally recognized entities or do they need a shell corp that have eg corporate leadership that voluntarily follows the will of the DAOhttps://twitter.com/CryptoCobain/status/1450922278938628098 …
The legal status of DAOs is unclear and kinda crashes headlong into the debate over the degree to which "code is law" in cryptoworld. A DAOs "rules" (for lack of better term) live on the chain but the extent to which the law recognizes them as binding is unclear
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AFAIK Wyoming (lol) is the only state that has made an effort to give legislative/regulatory guidance around this and basically treats them as an LLC, that said i don't think there are actual cases yet specifically applying thishttps://www.dlapiper.com/en/us/insights/publications/2021/03/wyoming-takes-a-step-ahead-to-clarify-the-legal-status-of-decentralized-autonomous-organizations/ …
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the expert on this would probably be
@tarunchitra tbh, he is in far deeper than i am
End of conversation
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