Do laws regarding the board of directors apply to a DAO’s governance structure?
To date, there are no laws or regulations regarding the
legal status of DAOs; therefore, no specific rules
regarding the board of directors are applicable.
Moreover, (i) DAOs are characterized by a
decentralized management and governance thus
meaning that the management of DAOs should be
handled by its members, and (ii) any decision will be
implemented automatically based on the inputs
entered into the applicable smart contract.