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Committee hears supporters and critics of new legal framework for decentralized nonprofit associations
Summary
Senators heard competing testimony on House Bill 45,18, which would create a statutory framework for decentralized, unincorporated nonprofit associations (DUNAs) used by blockchain projects.
Senator Parker laid out House Bill 45,18 to create a legal regime for decentralized, unincorporated nonprofit associations (DUNAs), a vehicle used by blockchain projects and web‑3 communities to organize and govern via smart contracts and distributed governance.
Sponsor testimony described DUNAs as organizations that can hold property, enter contracts and provide limited liability to participants while using…
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