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ARTICLE · 24 AUGUST 2023

Legal Misconceptions Surrounding DAOs: Five To Look Out For

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Decentralised autonomous organisations (DAOs) have risen in prominence over the last decade, enabling the rapid growth of blockchain technologies. Associate Yuliya Prokopyshyn debunks...

United KingdomTechnology
Yuliya Prokopyshyn
Yuliya Prokopyshyn

Decentralised autonomous organisations (DAOs) have risen in prominence over the last decade, enabling the rapid growth of blockchain technologies. Associate Yuliya Prokopyshyn debunks five key fallacies around DAOs:

1. DAOs exist in a legal vacuum

While DAOs challenge traditional legal concepts, they don't operate in a legal vacuum. Similar to the metaverse, regulators are actively exploring ways to integrate DAOs into existing frameworks, as well as establish new rules specifically relating to DAOs.

2. DAO tokens are securities

?Even though some DAO tokens may be categorised as securities, this doesn't apply to all of them. Seeking legal advice early in a DAO's development is crucial to address regulatory concerns about its tokens and overall structure.

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