The Governor of Utah, USA, signed legislation related to blockchain and DAOs, promoting the adoption of on-chain credentials and DAOs

2023-04-13 17:20:50

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ChainCatcher News, Utah Governor Spencer Cox signed two bills related to blockchain and DAOs on Wednesday, as the state seeks to further support the innovation of developing technologies.

The first bill, HB 470, requires the Utah Department of Technology Services to launch a pilot program for on-chain digitally verifiable credentials to prevent unauthorized changes to electronic records. The pilot program will be established so that the government can utilize these credentials and report its progress to the Public Utilities, Energy, and Technology Interim Committee by October.

The second bill, HB 357, aims to legally recognize DAOs that have not registered as for-profit or non-profit entities as domestic limited liability companies. The bill outlines the requirements for decentralized autonomous organizations to gain recognition from the state. It also lists the purposes for establishing a DAO while formally defining the membership requirements and inherent rights of DAO members. (Blockworks)

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