• bitcoinBitcoin(BTC)$95,850.00-0.82%
  • ethereumEthereum(ETH)$2,811.783.16%
  • rippleXRP(XRP)$2.56-0.79%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$656.140.11%
  • solanaSolana(SOL)$169.64-1.93%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2447270.56%
  • cardanoCardano(ADA)$0.780.87%
  • staked-etherLido Staked Ether(STETH)$2,801.552.81%
  • bitcoinBitcoin(BTC)$95,850.00-0.82%
  • ethereumEthereum(ETH)$2,811.783.16%
  • rippleXRP(XRP)$2.56-0.79%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$656.140.11%
  • solanaSolana(SOL)$169.64-1.93%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2447270.56%
  • cardanoCardano(ADA)$0.780.87%
  • staked-etherLido Staked Ether(STETH)$2,801.552.81%

Australian Digital Finance Industry Looks to Legally Recognize DAOs

July 19, 2021

Blockchain-powered DAOs (Decentralized Autonomous Organization) are proposed to improve efficiencies and change the traditional corporate structure in Australia. Australia is now&nbspone of many countries pondering legislation &nbspand the potential upside to being a leader in crypto policy and regulation encouraging industry migration, and ultimately benefiting from crypto&39s explosive growth. Countries around the world are recognizing the emerging opportunities in attracting the crypto industry to set up inside their borders. Being leaders in evolving policies, regulations, and energy infrastructure seems to be an important part of winning the race. The race empowers a global shift to a greater decentralization ideal adoption and is in our opinion a very worthy goal. Global law firm lawyers and the DeFi industry-focused, lobby senate committee in Australia to create a new limited liability legal entity for DAOs. This legal entity classification for a DAO in Australia would enable project governors to contract with other legal entities through DeFi applications. The structure of the traditional corporation would change under the DAO model, and a traditional board of directors would be replaced by Internet shareholders, communities, or nodes. The DAO for that network being encoded with a pre-determined set of rules that all participants have agreed to. The DAO would also remove any form of individual liability for the decisions of another node, or member on the DAO network. Australia&39s decision to legalize a less centralized model of corporate governance echo&39s the moves of many exchanges in the crypto business. Many exchanges are actively working to further decentralize their services, appealing more to the ideals of crypto veterans. Pressure on world authorities to evolve policy and regulation for crypto is being recognized more and more as potentially lucrative, worthy, and in demand. A big case study taking shape in El Salvador right now. Crypto talent and investment will land in the countries that are most interested in supporting the industry with favorable regulation, and world-leading green infrastructure initiatives.

Editor’s Picks

Bybit Hacked, Loses $1.4 Billion Worth Of ETH

Trump Orders Immediate Fort Knox Gold Audit

What’s Holding Back The Dogecoin Rally?

WikiLeaks Receives Ethereum Donation From ‘Mind Control’ Conspiracist

Editor’s Picks

PlanB Moves Bitcoin Holdings To ETFs

Web3 Fundraising: 10th – 16th February 2025

Argentine President Faces Backlash After Promoting LIBRA

Coinbase Finally Lists POPCAT & PENGU