Israel announces the formation of a specialized review panel to study DAO regulation, seeking public opinion on the matter until September 3, in an effort to provide regulatory clarity on decentralized autonomous organizations (DAOs).
The Israeli government is forming a special review panel to explore the regulation of decentralized autonomous organizations (DAOs), as reported by Foresight News. The group, led by the Chief Economist of the Ministry of Finance and relevant heads from the Ministry of Justice, aims to gather public opinion on the matter before September 3, contributing to a comprehensive understanding of DAO regulation.
The panel will review and consult on various aspects of DAOs, such as their use, types of activities, and the decision-making processes within the organizations. They will also examine the utilization of tokens and related risks within DAO ecosystems to provide regulatory clarity.
This initiative demonstrates Israel's commitment to understanding and regulating the burgeoning decentralized finance (DeFi) landscape. Through public engagement, the review panel aims to establish a well-rounded perspective on DAO regulation, ensuring a balanced approach to the potential benefits and risks associated with these novel organizations.