ChainCatcher news, according to Coindesk, the Law Commission of England and Wales said that decentralized autonomous organizations (DAOs) do not currently need specific legislation because they appear to be subject to existing laws.

The independent statutory body wrote in a paper published on Thursday that if DAOs engage in "specific activities" related to "specific investments," they may fall under the jurisdiction of the Financial Services and Markets Act 2000. When governance tokens look like stocks, grant voting rights and are issued in exchange for investments in DAOs, they are considered specific investments.