UK legal institutions: There is currently no need for legislation regarding DAOs

ChainCatcher news, according to Coindesk, the Law Commission of England and Wales has stated that decentralized autonomous organizations (DAOs) currently do not require specific legislation, as they appear to be governed by existing laws.
The independent statutory body wrote in a paper published on Thursday that if a DAO engages in "specific activities" related to "specific investments," it may fall under the jurisdiction of the Financial Services and Markets Act 2000. When governance tokens resemble shares, granting voting rights and issued in exchange for investments in the DAO, they are considered specific investments.