kaal:claim:3652481-017

Under current securities laws, DAOs governed solely by smart contracts are restricted in their ability to pool assets and generate profit, because those laws limit their ability to fund ecosystem development and deploy capital efficiently.

Under current laws, DAOs solely governed by smart contracts are restricted in their ability to pool assets and generate profit because securities laws limit their ability to fund ecosystem development and deploy capital efficiently.

Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020), III.2 Regulatory Uncertainty, p. 27
https://ssrn.com/abstract=3652481 · source PDF

Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020). SSRN: https://ssrn.com/abstract=3652481

• US securities law
• the DAO has no legal wrapper

failuresupport: evidencedfailure: securities law capital constraintfamily: compliance-cost-and-barrier-to-entrysecurities-lawsmart-contractsdao

• restated_by kaal:claim:3799320-012 Under current securities laws, DAOs governed solely by smart contracts are restricted in pooling assets and ge...

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