KlimaDAO Engages Tusk Strategies to Push Congress to Write DAO | Crypto World Analysis

KlimaDAO Engages Tusk Strategies to Push Congress to Write DAOs Into Law

The KlimaDAO announced Friday that it is collaborating with politicians to provide a legal framework for DAOs in the Lummis-Gillibrand Responsible Financial Innovation Act. KlimaDAO's legal team told Decrypt that the DAO has had multiple conversations with staff members from the offices of Sens. Cynthia Lummis and Kirstin Gillibrand since May.

The legislation was introduced to the Senate in June, and published on Github to gather comments from the technical community. The bill aims to bring clarity to the crypto industry, outlining how digital assets should be taxed and how they should be regulated by different government agencies. It also includes definitions for what virtual currencies are, as well as for other terms that haven’t yet been established by lawmakers, including DAOs. Also referred to as a decentralized autonomous organization.

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