Australian digital finance industry wants to legally recognize DAOs
Cointelegraph
Published Jul 15, 2021 09:40AM ET
Updated Jul 15, 2021 11:40AM ET
Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs).
The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday.
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Written By: Cointelegraph
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