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 …
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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
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 amThanks. Twitter will use this to make your timeline better. UndoUndo
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