{"id":6182,"date":"2022-02-11T14:49:45","date_gmt":"2022-02-11T07:49:45","guid":{"rendered":"https:\/\/belaws.com\/thailand\/?p=6182"},"modified":"2025-02-06T16:28:02","modified_gmt":"2025-02-06T09:28:02","slug":"who-is-responsible-for-a-dao-exploring-the-legal-personality-of-a-dao","status":"publish","type":"post","link":"https:\/\/belaws.com\/thailand\/fr\/who-is-responsible-for-a-dao-exploring-the-legal-personality-of-a-dao\/","title":{"rendered":"Qui est responsable d\u2019une Organisation Autonome D\u00e9centralis\u00e9e (DAO)\u00a0? : Explorer la personnalit\u00e9 juridique d\u2019une DAO"},"content":{"rendered":"<div id='breadcrumb_section'  class='avia-section av-ksd0xiy5-8d7aad9d55850bb423a0559dd08c567f main_color avia-section-default avia-no-border-styling  avia-builder-el-0  el_before_av_section  avia-builder-el-first  sticky avia-bg-style-scroll av-minimum-height av-minimum-height-custom  container_wrap sidebar_right'  ><div class='container av-section-cont-open' style='height:20px'><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-6182'><div class='entry-content-wrapper clearfix'>\n<section  class='av_textblock_section av-ks8kyyfa-e516bae24dd4ed4f78e7dedb0aea1067'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock breadcrumb'  itemprop=\"text\" >\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-18myty-919e5cb9f68131fb6240d9c12261edb4\">\n.av_font_icon.av-18myty-919e5cb9f68131fb6240d9c12261edb4 .av-icon-char{\nfont-size:11px;\nline-height:11px;\n}\n<\/style>\n<span  class='av_font_icon av-18myty-919e5cb9f68131fb6240d9c12261edb4 avia_animate_when_visible av-icon-style- avia-icon-pos-left av-no-color avia-icon-animate'><span class='av-icon-char' aria-hidden='true' data-av_icon='\ue874' data-av_iconfont='entypo-fontello' ><\/span><\/span>\n<div style=\"padding-left: 15px\"><span class=\"\"><a href=\"https:\/\/belaws.com\/thailand\/\">Belaws Home<\/a> \u203a\u203a <a href=\"https:\/\/belaws.com\/thailand\/\">Thailand<\/a> \u203a\u203a <a href=\"https:\/\/belaws.com\/thailand\/blog\">Blog<\/a><\/span> \u203a\u203a Who is responsible for a DAO?: exploring the legal personality of a DAO<\/div>\n<\/div><\/section>\n\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><div id='av_section_2'  class='avia-section av-re718-f933e9e3a470259eecd4d4692aaacea2 main_color avia-section-no-padding avia-no-border-styling  avia-builder-el-3  el_after_av_section  el_before_av_section  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-6182'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksd27few-1f8c384e085c379baccb5abbe326157c\">\n#top .hr.hr-invisible.av-ksd27few-1f8c384e085c379baccb5abbe326157c{\nheight:100px;\n}\n<\/style>\n<div  class='hr av-ksd27few-1f8c384e085c379baccb5abbe326157c hr-invisible  avia-builder-el-4  el_before_av_two_fifth  avia-builder-el-first  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div class='flex_column av-gmj0k-ac56bb06b98c278ca7684f46c4d7723e av_two_fifth  avia-builder-el-5  el_after_av_hr  el_before_av_three_fifth  first av-break-at-tablet flex_column_div '   ><p><section  class='av_textblock_section av-kscys0p5-dea49aec98af3418f6bc875197a205db'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock sur-titre_bleu'  itemprop=\"text\" ><p>legal<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lra90-9ab3f8d48a81ed396ae07bbaafa596f6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h1_bleu_post'  itemprop=\"text\" ><h1>Who is responsible for a DAO?: exploring the legal personality of a DAO<\/h1>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-b3jfo-03f63b84c9a76d84e1713c05a87923fd\">\n#top .hr.hr-invisible.av-b3jfo-03f63b84c9a76d84e1713c05a87923fd{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-b3jfo-03f63b84c9a76d84e1713c05a87923fd hr-invisible  avia-builder-el-8  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kscyalj7-2ad25b68643e9517389c1de031001cff'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_18'  itemprop=\"text\" ><p>11\/02\/2022<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-34ppau-a4e6501d36a33d6eed7e0f71de4a9f38'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_18'  itemprop=\"text\" ><p>A Decentralised Autonomous Organisation (DAO), is a community-led entity which has central authority in place. A DAO is fully autonomous and transparent: this is achieved through the use of smart contracts which execute the rule and duties of the DAO. DAOs are becoming a prominent part of the Web 3.0 revolution and look to continue their surge in 2022.<\/p>\n<\/div><\/section><\/p><\/div><div class='flex_column av-bmm5w-737f28be9bb008277e27311ae0eaf479 av_three_fifth  avia-builder-el-11  el_after_av_two_fifth  avia-builder-el-last  av-break-at-tablet flex_column_div '   ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kscy8en7-f134b07439aef3e8d83ba76634123c32\">\n.avia-image-container.av-kscy8en7-f134b07439aef3e8d83ba76634123c32 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-kscy8en7-f134b07439aef3e8d83ba76634123c32 av-styling- avia-align-center  avia-builder-el-12  avia-builder-el-no-sibling  radius_10 img'  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-6183 avia-img-lazy-loading-not-6183 avia_image' src=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140.png\" alt='Who is responsible for a DAO?: exploring the legal personality of a DAO' title='Who is responsible for a DAO?: exploring the legal personality of a DAO'  height=\"800\" width=\"990\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140.png 990w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-600x485.png 600w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-300x242.png 300w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-768x621.png 768w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-495x400.png 495w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-845x684.png 845w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/02\/140-705x570.png 705w\" sizes=\"(max-width: 990px) 100vw, 990px\" \/><\/div><\/div><\/div><\/div>\n\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4\">\n.avia-section.av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4{\nbackground-color:#fafafa;\n}\n<\/style>\n<div id='av_section_3'  class='avia-section av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4 main_color avia-section-default avia-no-border-styling  avia-builder-el-13  el_after_av_section  el_before_av_section  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-6182'><div class='entry-content-wrapper clearfix'>\n<section  class='av_textblock_section av-kzc80ol3-45711fe16aad30ee0aad28d91c39d659'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_18'  itemprop=\"text\" ><p>While there is no doubt about the rapid adoption of DAOs by different groups, it is essential to note that DAOs pose significant legal issues. While the streamlined, transparent nature of DAOs are a key selling point, it is also a source of controversy as there is no person directly responsible for the actions taken by the DAO. Traditional companies which consist of a CEO and Board of Directors, have a set of duties they must uphold and can be held accountable for, this is not present in a DAO. This begs the question, who is liable for any breaches of law of regulations by a DAO?<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksd2ivxm-4ac1e572d60cf23be48dd0840028faf1\">\n#top .hr.hr-invisible.av-ksd2ivxm-4ac1e572d60cf23be48dd0840028faf1{\nheight:60px;\n}\n<\/style>\n<div  class='hr av-ksd2ivxm-4ac1e572d60cf23be48dd0840028faf1 hr-invisible  avia-builder-el-15  el_after_av_textblock  el_before_av_two_third  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div class='flex_column av-fpevw-aab8acce1826d370629f645f34d6bd3b av_two_third  avia-builder-el-16  el_after_av_hr  el_before_av_one_third  first av-break-at-tablet flex_column_div '   ><section  class='av_textblock_section av-kscytnto-6f8bd4ca8aa4b5f4311495ee3b7802c6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>What is the legal personality of a DAO?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzf5n1oc-0072187d0bed80a28a7210026dc6d4de'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>The very first DAO was used as a form of crowdfunding, but has now developed in such a way that they can be viewed as a legal entity as well as a collective investment vehicle \/ fund. As we can see from the examples below, the legal makeup of a DAO is open to a lot of legal issues and considerations.<\/p>\n<p>DAO\u2019s are made up of the following legal traits:<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2jj305-8438facf165d88b85e127060910d7fd2\">\n#top .hr.hr-invisible.av-2jj305-8438facf165d88b85e127060910d7fd2{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2jj305-8438facf165d88b85e127060910d7fd2 hr-invisible  avia-builder-el-19  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kz3ijh0i-b14b18de7fb16d461e758db53f2874df'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu_post'  itemprop=\"text\" ><h3>Legal personality<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kz3ijvlt-fad395277747ea0d37394e6df0d77409'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>A DAO can be considered as a form of partnership or association. However, a DAO is not a legal entity.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-e12zid-d22067e9a092c14eba134a63127ae230\">\n#top .hr.hr-invisible.av-e12zid-d22067e9a092c14eba134a63127ae230{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-e12zid-d22067e9a092c14eba134a63127ae230 hr-invisible  avia-builder-el-22  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzf5p9od-8a8bf29c4993ad56bd30c4b5ce200f29'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu_post'  itemprop=\"text\" ><h3>Jurisdiction<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzf5pmf4-1f6e9ee9751452b389ac35785ca3c77a'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>Determining the jurisdiction for a DAO is a complex task, as it does not exist in a certain place or country. DAOs are a completely digital construct, made up of code and smart contracts, meaning pinpointing a geographical location is impossible.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4iwbvh-31abb451fa8aefc19099a735427ff6ad\">\n#top .hr.hr-invisible.av-4iwbvh-31abb451fa8aefc19099a735427ff6ad{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-4iwbvh-31abb451fa8aefc19099a735427ff6ad hr-invisible  avia-builder-el-25  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzf5qj89-d73bf59831cb7c2a2d0b973f6eafe918'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu_post'  itemprop=\"text\" ><h3>Registration<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzf5qyf0-b6016405ce81056c14bfba1b518ce752'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>A DAO doesn\u2019t require any form of registration. Additionally, tokens are not shares or securities. However, national governments have started to regulate Cryptocurrency, meaning that DAO tokens could fall under these regulations.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2lk6rh-898ac94cdf7b3ba0162d54ec09d13919\">\n#top .hr.hr-invisible.av-2lk6rh-898ac94cdf7b3ba0162d54ec09d13919{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2lk6rh-898ac94cdf7b3ba0162d54ec09d13919 hr-invisible  avia-builder-el-28  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzf5rn5i-aebcb87fc09cff5b5b301dc3bb4201c7'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu_post'  itemprop=\"text\" ><h3>Limited Liability<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzf5rylk-0ceca719ca01dc1274777796bacfb97a'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>Currently, there are no rules that limit the liabilities of DAO\u2019s members. In some countries, a DAO can be viewed as a partnership with unlimited legal liability.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-9ianvq-a036c58280edf3837655d9beef17d057\">\n#top .hr.hr-invisible.av-9ianvq-a036c58280edf3837655d9beef17d057{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-9ianvq-a036c58280edf3837655d9beef17d057 hr-invisible  avia-builder-el-31  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzi3vihi-84c120c9c5d5a56f1247256dd4e89f07'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu_post'  itemprop=\"text\" ><h3>Governance<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzi3vudh-e35ba4b59416386b3efc4a91139a34b4'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>A DAO does not have a hierarchical structure and therefore, is not centrally managed. All decisions are made by a consensus agreement between the stakeholders. All approved changes to the DAO are written into the smart contract and are available for everyone to see.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2pw051-c3b9e54dacbcf7e2c26dcddb7ad05810\">\n#top .hr.hr-invisible.av-2pw051-c3b9e54dacbcf7e2c26dcddb7ad05810{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2pw051-c3b9e54dacbcf7e2c26dcddb7ad05810 hr-invisible  avia-builder-el-34  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-7l0vna-3cfcb3d460c0cc550c4b5d1eda475208'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>How can a DAO enter into a contract?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzc8ay6e-b4d0d78e5214b0c80d67a0743a0828e8'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>With the exception of Wyoming and Vermont, DAOs lackformal legal recognition around the world, this means a DAO lacks a legal form with which it can enter a contract.<\/p>\n<p>While it is true a DAO may initiate a governance proposal which authorises an individual to enter into a commercial arrangement on the DAO\u2019s behalf (and fund that arrangement), the representative appointed by the DAO might not automatically enjoy the limited liability that a corporate entity does. Additionally, by doing so there is a risk that the DAO could be considered a general partnership or unincorporated association. Should this be the case, the members of the DAO may be open to personal liability for any of the DAO\u2019s actions.<\/p>\n<p>One possible solution to these liability issues would be for the DAO to authorise, through a formally approved governance vote, the creation of a traditional corporate entity for the limited purpose of entering a corporate arrangement on behalf of the DAO.<\/p>\n<p>While, using such a \u201cbridge entity\u201d would address the liability issues, doing so is inefficient, a lot of work and makes many of the key benefits that make DAOs special redundant.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-5bshva-0379782c7e61bc8c0f8addf1e8cec7f6\">\n#top .hr.hr-invisible.av-5bshva-0379782c7e61bc8c0f8addf1e8cec7f6{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-5bshva-0379782c7e61bc8c0f8addf1e8cec7f6 hr-invisible  avia-builder-el-37  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzf5smqb-cd0593c645cf837b05dc1ba44573ec26'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>Who is liable for any legal infractions made by the DAO?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzi3xkyb-ace87b9c436268af53ee90d6eb13911f'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>As mentioned above, should a DAO initiate a governance proposal enabling a member or members of the DAO to enter into a commercial agreement on behalf of the DAO, then this opens the stakeholders up for liability. Taking this form of action could result in the DAO being considered a partnership and therefore, all the stakeholders being accountable and liable for its actions. Using a bridge entity would mitigate these risks, but at the same time devalue the merits of using a DAO in the first place.<\/p>\n<p>In October 2021, the Financial Action Task Force (FATF) issued new guidelines with the aim of trying to regulate the fast moving DeFi environment (including DAOs). The guidance states that those who maintain \u201ccontrol or sufficient influence\u201d over a DeFi arrangement should be subject to regulation for AML purposes. This has the effect of putting DAO members such as key signers or private key custodians under the spotlight for regulators.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4tl26u-a69abddd9bc3c21098820e5cd7c957df\">\n#top .hr.hr-invisible.av-4tl26u-a69abddd9bc3c21098820e5cd7c957df{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-4tl26u-a69abddd9bc3c21098820e5cd7c957df hr-invisible  avia-builder-el-40  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kzi3y6tl-fcbc6ef46aec408ad308f492a300921e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>Wyoming and the DAO LLC<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzi3yh2x-1c3dc35943de57d0027b385f71638ab9'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>There is light at the end of the tunnel for the liability issues relating to DAOs. In April 2021, Wyoming Governor Mark Gordon signed Bill 38. This bill led Wyoming to recognizing DAOs as LLCs, and took effect on July 1, 2021.<\/p>\n<p>This new law defines DAOs as \u201ca limited liability company whose articles of organisation contain a statement that the company is a decentralised autonomous organisation.\u201d<\/p>\n<p>This legislation will allow DAOs to be legally incorporated, hire employees, scale, and grow. Most importantly, DAO stakeholders would be able to enjoy the same liability protections as a traditional liability company i.e. they would only be liable up to the same amount as their token value.<\/p>\n<p>Wyoming gives DAOs the legitimacy they need to fully develop as an alternate structure for businesses.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2wsmye-001ef5d735c519f8839766d11cd45429\">\n#top .hr.hr-invisible.av-2wsmye-001ef5d735c519f8839766d11cd45429{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2wsmye-001ef5d735c519f8839766d11cd45429 hr-invisible  avia-builder-el-43  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kwocfmx6-0a605a1f149aed260bade8242f0e3a9d'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>In conclusion<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzc912sg-6311f1fae01c564ef56a22e851bd0979'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>DAOs are on course to become a blockchain hot topic for 2022, however, they are still at a very early stage in their development. The lack of legal recognition and a legal regulatory framework means there are a lot of potential legal pitfalls to be considered. One of the key areas of consideration should be the liability of the members of a DAO.<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kzc91m25-271a7f715511be88f4b09c0005981539'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>If you are interested in learning more about how your business could get involved with the Web 3.0, why not book a <a href=\"https:\/\/calendly.com\/belaws\/blockchainthailand?utm_source=belaws&amp;utm_medium=website&amp;utm_content=thailand-start-metaverse\" target=\"_blank\" rel=\"noopener\">consultation with one of our Blockchain experts here<\/a>.<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kwblafeu-fa8abdc7a421e9b5fd2c4bc45ad5f636'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><em>Please note that this article is for information purposes only and <strong>does not constitute legal advice<\/strong>.<\/em><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-zyp8-41a00f5f67705ff7f7f0e4aaa8988d15\">\n#top .hr.hr-invisible.av-zyp8-41a00f5f67705ff7f7f0e4aaa8988d15{\nheight:80px;\n}\n<\/style>\n<div  class='hr av-zyp8-41a00f5f67705ff7f7f0e4aaa8988d15 hr-invisible  avia-builder-el-48  el_after_av_textblock  avia-builder-el-last '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-azojo-a5db05410c30079af87f679b6ef91fd8\">\n.flex_column.av-azojo-a5db05410c30079af87f679b6ef91fd8{\nborder-radius:0px 0px 0px 0px;\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\npadding:0px 30px 30px 30px;\nbackground-color:#fafafa;\n}\n<\/style>\n<div class='flex_column av-azojo-a5db05410c30079af87f679b6ef91fd8 av_one_third  avia-builder-el-49  el_after_av_two_third  el_before_av_hr  av-break-at-tablet flex_column_div '   ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kslkbhig-edfbb769ec414c16ec07823d03873c46\">\n#top .hr.hr-invisible.av-kslkbhig-edfbb769ec414c16ec07823d03873c46{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-kslkbhig-edfbb769ec414c16ec07823d03873c46 hr-invisible  avia-builder-el-50  el_before_av_hr  avia-builder-el-first  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksln7w2o-0134baf1cb7e03e415e0a9e1a2577174\">\n#top .hr.hr-invisible.av-ksln7w2o-0134baf1cb7e03e415e0a9e1a2577174{\nheight:80px;\n}\n<\/style>\n<div  class='hr av-ksln7w2o-0134baf1cb7e03e415e0a9e1a2577174 hr-invisible  avia-builder-el-51  el_after_av_hr  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data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksll297i-ac8feca4576cdd5bdd6e22d214756788\">\n#top .hr.hr-invisible.av-ksll297i-ac8feca4576cdd5bdd6e22d214756788{\nheight:25px;\n}\n<\/style>\n<div  class='hr av-ksll297i-ac8feca4576cdd5bdd6e22d214756788 hr-invisible  avia-builder-el-53  el_after_av_image  el_before_av_button '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<div  class='avia-button-wrap avia-button-center  avia-builder-el-54  el_after_av_hr  el_before_av_hr  bouton-cta' ><a href=\"https:\/\/calendly.com\/vbapartners\/tax-accounting-blockchain?month=2023-07\" class=\"avia-button av-ksllqrx2-6d9b6f0024016ab82efc917d60ec04f1 avia-icon_select-yes-right-icon avia-size-large avia-position-center avia-color-theme-color\" target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_iconbox_title' >Book now<\/span><span class='avia_button_icon avia_button_icon_right' aria-hidden='true' data-av_icon='\ue88d' data-av_iconfont='entypo-fontello'><\/span><\/a><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50\">\n#top .hr.hr-invisible.av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50{\nheight:25px;\n}\n<\/style>\n<div  class='hr av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50 hr-invisible  avia-builder-el-55  el_after_av_button  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-p84k-de56a185a3f17e9511778f9bc979b582'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_14'  itemprop=\"text\" ><p>Our consultations last for a period of 1 hour and are conducted by our Blockchain experts Lawyers who are fluent in English, French and Thai.<\/p>\n<p>Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our Blockchain experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6\">\n#top .hr.hr-invisible.av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6{\nheight:15px;\n}\n<\/style>\n<div  class='hr av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6 hr-invisible  avia-builder-el-57  el_after_av_textblock  el_before_av_codeblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<br \/>\n<br \/>\n<br \/>\n<br \/>\n<\/p><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kwbmgoj8-6dc09b81cb16036ac7d89efee366ca1b\">\n#top .hr.hr-invisible.av-kwbmgoj8-6dc09b81cb16036ac7d89efee366ca1b{\nheight:160px;\n}\n<\/style>\n<div  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av-break-at-tablet flex_column_table_cell av-equal-height-column av-align-top '   ><section  class='av_textblock_section av-e3vamd-2831d275065bb53943684a2c5ec0af0e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='av-medium-hide av-small-hide av-mini-hide avia_textblock h3_bleu_clair2'  itemprop=\"text\" ><h3 style=\"text-align: right\">Subscribe today<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-bqzb6t-efb495a57299c244c3822ff190a042b8'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='av-desktop-hide avia_textblock h3_bleu_clair2'  itemprop=\"text\" ><h3 style=\"text-align: center\">Subscribe today<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-av4elx-48dd3241b687c37b0e7a9812bbf0eb7e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='av-medium-hide av-small-hide av-mini-hide avia_textblock text_18'  itemprop=\"text\" ><p style=\"text-align: right\">To our newsletter for all the latest legal news<br \/>\nin South East Asia, Belaws updates and<br \/>\nspecial promotions on our services.<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-986x5h-7c71a1bbb1ea1ce18f49928a629c3788'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='av-desktop-hide avia_textblock text_18'  itemprop=\"text\" ><p style=\"text-align: center\">To our newsletter today for all the latest legal news in South East Asia,<br \/>\nBelaws updates and special promotions on our services.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-78yu1x-9625841b5b1732a37c333bcfc0c6e279\">\n#top .hr.hr-invisible.av-78yu1x-9625841b5b1732a37c333bcfc0c6e279{\nheight:20px;\n}\n<\/style>\n<div  class='hr 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