2022, however, flipped this script. Today, DAOs have the option to engage with authorities and legal systems, and several jurisdictions now recognize the newest evolution of human organization. Wyoming and Tennessee in the United States and the Republic of the Marshall Islands have all created DAO LLCs, which are highly flexible and powerful legal entities that are custom-made for DAOs with all the benefits of traditional LLCs. Additionally, Colorado Limited Cooperative Associations (LCA) and Unincorporated Nonprofit Associations (UNA) have been used with success by some DAOs, while others have chosen to create foundations in Switzerland, the Cayman Islands or the British Virgin Islands.
- 2023: The Year DAOs Follow the Law?
Written by Bankerage Published on December 16, 2022