News Explorer — DAOs Could Get Official Standing Under Proposed California Law

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Apr 25, 12:06 am

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DAOs Could Get Official Standing Under Proposed California Law

California Assemblymember Matt Haney has introduced Assembly Bill 1229 to create a legal framework for Decentralized Autonomous Organizations (DAOs). The bill would enable DAOs to incorporate in California, pay taxes, and provide better protection for Californians participating in the Web3 economy. It would also change the state’s corporate code to include DAOs, blockchain networks, and smart contract protocols.

California Assemblymember Matt Haney has introduced Assembly Bill 1229 to create a legal framework for Decentralized Autonomous Organizations (DAOs). The bill would enable DAOs to incorporate in California, pay taxes, and provide better protection for Californians participating in the Web3 economy. It would also change the state’s corporate code to include DAOs, blockchain networks, and smart contract protocols.

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