Midtown Manhattan on January 8, 2024. Photo: Ryland West/ALM New York Is Losing the Race To Be a Home for DAOs
Although the state has not been a leader in attracting DAOs to incorporate or conduct activity within its borders, New York now has plenty of examples to study from if it desires to establish a welcoming environment for DAOs.
July 18, 2022 at 11:00 AM
10 minute read
As decentralized autonomous organizations (DAOs) have exploded in popularity, a growing number of jurisdictions are seeking to be friendly to DAOs. Although it is possible for a DAO to function without a formal legal wrapper, DAOs may need legal personhood to contract with service providers, protect its treasury, or engage in certain activities. The novel attributes of DAOs, including their diffuse and everchanging memberships, lack congruence with traditional top-down frameworks for business entities.
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