Alabama becomes the second state in the U.S. to grant the DAO legal status.

PANews reported on April 2nd, citing Cointelegraph, that the Governor of Alabama signed the Decentralized Unregistered Nonprofit Associations Act, making Alabama the second state after Wyoming to grant legal status to DAOs. This act provides DAOs with legal status and limited liability protection, granting them full legal entity status, allowing them to own property, sue and be sued, enter into contracts, and exempt individual members and administrators from personal liability. Eligibility requires DAOs to have at least 100 members and be formed for a common nonprofit purpose, such as governing a blockchain network or smart contract system. The Director of Policy at a16z Crypto stated that decentralized governance is central to the future of crypto, and this act provides certainty for decentralized communities to build, govern, and scale in the real world. A similar bill in West Virginia has passed the House of Representatives and is awaiting the Governor's signature.

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Author: PA一线

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