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You’re right that the relationship between DAOs and corporate entities is a gray area in law right now. But imagine this went to court and the plaintiffs said t
by danielrhodes 5y ago
You’re right that the relationship between DAOs and corporate entities is a gray area in law right now. But imagine this went to court and the plaintiffs said that it quacked like a duck, so their assumption was for all intents and purposes it was a duck. What do you think the judge is going to say?
I’m not a lawyer and not aware of any precedent here, but I imagine if it’s a total gray area the judge would say they are entitled to the same rights as one might find being a member of a corporation since that was the shared belief system at the time.
- pavlov 5y agoIf there really was such a shared belief system, then this seems like a security offering by the Howey test definition, and the SEC would have sued the DAO eventually.
- danielrhodes 5y agoAlso an open area of law! I think this has already happened, in fact.