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Decentralized Autonomous Organization (DAO) California

Patton Sullivan Brodehl LLP

The “DAO Jungle” Chronicles: DAO can be Sued as a General Partnership; Token Holders Face Liability

A prior DAO Jungle Chronicles post here covered a 2023 federal District Court opinion from California’s Southern District holding that a complaint adequately alleged a DAO (in that case, bZx DAO) could be sued as a general...more

Allen Matkins

Is A DAO A General Partnership, Unincorporated Association, Or Nothing At All?

Allen Matkins on

According to the Securities and Exchange Commission, a DAO is a "term used to describe a 'virtual' organization embodied in computer code and executed on a distributed ledger or blockchain".  That does not answer the...more

Patton Sullivan Brodehl LLP

The “DAO Jungle” Chronicles: Federal Court Allows DAO to be Sued as a Partnership

In a prior post — The DAO Jungle? — we recapped the State of Wyoming’s new legislation extending LLC protections to Decentralized Autonomous Organizations (DAOs). Under that Wyoming law, a DAO could register as a LLC and its...more

Allen Matkins

California Bill Would Create Decentralized Nonprofit Association Law

Allen Matkins on

As discussed in this recent post, Judge Larry Alan Burns recently ruled that the plaintiffs in class action had adequately pled that a distributed autonomous organization (DAO) was a partnership under California law.  Sarcuni...more

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