The DUNA Act, concerning decentralized nonprofit associations, was passed by both houses of the state legislature and signed by Governor Kay Ivey. To meet the criteria, DAOs must have more than 100 members. Governance can be conducted exclusively through blockchain technology and smart contracts. Now, DAOs in Alabama will possess full legal status. They will be able to own property, enter into contracts, file lawsuits, and be defendants in lawsuits. Members and administrators, however, are protected from personal liability. In 2024, Wyoming had also enacted a law granting legal status to DAOs. Meanwhile, a similar bill has been sent to West Virginia Governor Patrick Morrissey for signing. According to CoinLaw, there are a total of 13,000 DAOs with assets amounting to $24.5 billion, 85% of which are on Ethereum and its L2.
News Regulation
Alabama Becomes the Second State to Grant Legal Status to DAOs
The DUNA Act, concerning decentralized nonprofit associations, was passed by both houses of the state legislature and signed by Governor Kay Ivey. To meet the criteria, DAOs must have more than 100 me...