kaal:claim:3652481-040

Without a legal wrapper, DAOs face potential regulatory enforcement actions and civil liability not only at the organization level but against individual participants.

Without a legal wrapper, DAOs face potential regulatory enforcement actions and civil liability, not only at the organization level but against individual participants.

Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020), V. Conclusion, p. 65
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

• no off chain legal entity has been formed

failuresupport: arguedfailure: unwrapped DAO liability exposurefamily: legal-personality-and-liability-gaplaw-and-legal-systemscompliancedao

• extended_by kaal:claim:3799320-009 Default general partnership treatment would hold every stakeholder of a DAO liable for any debts or legal acti...
• supported_by kaal:claim:5254152-028 A DAO operating without a legal wrapper risks being deemed a partnership by estoppel in legal disputes, exposi...
• restated_by kaal:claim:5254152-015 Higher regulatory compliance depends on a DAO adopting an appropriate legal wrapper, such as an LLC or a found...
• extended_by kaal:claim:4529715-022 Decentralized organizations carry inherent risks that require establishing a legal entity, and establishing th...
• supported_by kaal:claim:5254152-033 Some DAOs substitute anonymity for legal structure: without any legal registration, Olympus DAO relies on anon...

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• Extension: DAO Regulation and Legislation
• Extension: Money Laundering Through DeFi and DAOs: A New Zone of Regulatory Blindness and the Limits of International Enforcement
• Extension: Decentralized, But Not Above the Law: Analyzing DAO Governance and Regulation
• Qualification: A Quantitative Taxonomy of Regulatory Frameworks for Decentralized Autonomous Organizations: Mathematical Characterization of Liability Distribution, Compliance Architecture, and Governance Optimization
• Qualification: Traditional and Digital Limits of Collective Investment Schemes
• Qualification: Decentralized Autonomous Organization Governance
• Qualification: DAO Governance