US EditionThe future of business in Virginia: Recognizing the legal status of DAOs
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The future of business in Virginia: Recognizing the legal status of DAOs
Virginia looked to position itself at the forefront of business innovation with HB 1796, the Virginia Decentralized Autonomous Organization (DAO) Act. The bill establishes the legal framework necessary for DAOs to register as limited liability companies under the Virginia Limited Liability Company Act. A DAO is a blockchain-based business structure that operates without centralized leadership. Instead, its members collectively operate the DAO in…
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