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Towards Legal Recognition of Decentralised Autonomous Organisations

Aaron M. Lane, Darcy W.E. Allen & Chris Berg

Decentralised Autonomous Organizations (DAOs) are a typical organisation form in the web3 economy. DAOs are internet-native organisations that are coordinated and governed by pseudonymous community members through a nexus of blockchain-based digital assets and smart contracts. There is over US$26 billion locked in over 2300 active DAOs globally. This article examines the legal recognition of DAOs in an Australian context. A recent Australian Senate Inquiry recommended DAOs be recognised as a distinct business structure. This article makes three contributions towards this goal: (1) critically evaluate options for DAO recognition under Australian law; (2) a comparative analysis of United States DAO laws; and (3) an analytical outline of the key design features of an Australian DAO law.

WP 2024_8
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