Hong Kong Legislative Council Member Wu Jiezhuang: The SAR government can refer to the securities industry to establish a DAO licensing system
2024-12-31 02:58:14
Hong Kong Legislative Council Legislative Council web3 and virtual assets development forums committeesdesk3cryptocurrencydesktopCrypto News
The Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee Chairperson Wu Jiezhuang said that the Hong Kong High Court heard the world's first lawsuit involving a decentralized autonomous organization (DAO) in August this year. At present, the United States and Abu Dhabi have relevant legal frameworks to regulate DAOs. Since DAOs have no legal subject, it is recommended that the SAR government establish a DAO licensing system by referring to the licensing system in the securities industry. It requires licensed DAOs to clarify their internal individual relationships and must establish a responsible person (RO) to ensure that licensed companies comply with regulatory requirements and maintain the company's daily operations.
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