BlockProf
New remarks from Acting Comptroller on Stablecoin
Still waiting to see what will happen with the US banking regulators and stablecoins. New tea leaves to read in Acting OCC head Hsu’s recent remarks. Not a lot there, but I’m glad to see he gets that crypto is highly valuable to the unbanked and underbanked.
Wrap Our Heads Around Wrapping the DAO
DAO’s interact with the real world, and when they do it is useful to have a business entity to do so. DAO members who are non anonymous sometimes get into trouble, realize they might be personally liable for the DAO’s actions (because it may be treated as an unincorporated general partnership with unlimited liability for all partners), and walk into a lawyer’s office in a panic. Innovative crypto lawyers find ways to “wrap the DAO” with some kind of business entity structure. An a16z paper from November of last year suggests using an interesting hybrid “unincorporated non-profit.” Messari yesterday describes an interesting use of Delaware LLCs for DAOs in new report. Wyoming is considering new amendments to its Wyoming DAO LLC. (God Bless Wyoming!) Lots of changes and innovation to come, fast moving policy area at the intersection of law and blockchain.
Penguin Hostile Takeover
Penguin revolt and hostile takeover, more here. New owners of popular pudgy penguin NFT seek to overtake the founders.
I sense a great convergence in the Force…
The progressive case for bitcoin. The libertarian case for crypto and bitcoin. Forces converging. I like it.