Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Subcommittee backs bill to recognize decentralized autonomous organizations in Virginia
Summary
The Technology and Innovation Subcommittee voted to report HB 1796, the Virginia Decentralized Autonomous Organization Act, after adopting a substitute clarifying that DAOs are not LLCs and delaying enactment to July 2026.
The Technology and Innovation Subcommittee voted to report House Bill 1796 — the Virginia Decentralized Autonomous Organization (DAO) Act — to the next committee, after the subcommittee adopted a substitute clarifying that DAOs are a legal entity distinct from limited liability companies.
Delegate Hilmer, the bill’s patron, told the subcommittee the measure recognizes DAOs — organizations whose activities are facilitated by blockchain technology — and creates a legal framework to allow registration and governance without folding DAOs into existing Virginia LLC law. “DAOs exist for a variety of purposes, including administration of a decentralized platform, exchange or application, philanthropic causes and funds for projects, social purposes for communities of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
