UK Law Commission suggests regulating DAOs under existing frameworks
A recent report from the United Kingdom’s Law Commission has concluded decentralized autonomous organizations (DAOs) need to be regulated under existing financial regulations and tax frameworks.
Published on July 11, the research paper stated there’s no immediate requirement to create a separate entity to oversee and regulate DAOs but urged authorities to “keep the matter under review.”
The paper acknowledged the lack of general consensus over “what a DAO is,” adding that the ecosystem tends to adjust its operations according to local judicial requirements.
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