Decentralized Autonomous Fiduciaries
Decentralized Autonom.
Organizations
While the possibility of allowing Decentralized Autonomous Organizations (DAOs) the status of legal persons is yet contemplated by various jurisdictions such as the UK or Liechtenstein, the state of Wyoming in the U.S. already enacted a law in July 2024 that allows DAOs to be formed as a limited liability company with recognition of legal personality, namely as so-called DAO LLCs. Through registration as a "limited liability partnership", the public is provided not only with a digital auditability of blockchain, but the same transparency and general auditability (annual filings) of an incorporated DAO as used to in usual common law legal persons such as LLC, LTD, etc.
hyper ledger
blockchain
The Token and TT Service Provider Act (TVTG) entered into force on 1 January 2020 in the Principality of Liechtenstein. As the national blockchain act, it defines the legal requirements for the provision of services on TT systems. TT systems are transaction systems based on trustworthy technologies that enable a variety of economic services.
about the Blockchain Act
emerging of DAO LLC
fiduciaries
Pursuant to Article 1058(4) of the Liechtenstein Persons and Companies Act (PGR), the performance of a review (audit of annual accounts) must be carried out in accordance with the standards to be issued by the competent professional organisations. Our experimental Decentralized Autonomous Fiduciaries are designed to fully adopt this standard for further reviews.
legal framework