Volume
74
Abstract
Decentralized autonomous organizations (DAOs) are transforming how people collaborate and manage collective ventures, yet the law has lagged behind this innovative form of organization. Because DAOs rely on smart contracts rather than conventional organizational infrastructure, it is often unclear how they fit into existing laws. This paper defines DAOs, outlines the current regulatory frameworks governing them, and demonstrates where those frameworks fall short. It argues that DAOs should be recognized as a distinct form of corporate entity and that a tailored exemption from federal securities laws is necessary for them to operate effectively. The proposed model offers a practical path to granting DAOs legal recognition while preserving core principles of transparency, accountability, and investor protection.
Recommended Citation
Nathan Cline,
Decentralized, But Not Above the Law: Analyzing DAO Governance and Regulation,
74 Clev. St. L. Rev. Et Cetera
99
(2026)
available at https://engagedscholarship.csuohio.edu/etcetera/vol74/iss1/4