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March 31st, 2023
Are DAOs Dead? Judge Ruling In bZx Case Spells Trouble, Legal Experts Say
Blockchain Technology Co-Chair Jeremy S. Goldman is quoted in the article, “Are DAOs Dead? Judge Ruling in bZx Case Spells Trouble, Legal Experts Say” published by Decrypt. The article discusses the recent ruling that suggested individual members of bZx DAO could be found liable in lawsuits against the entity, which would be troublesome for token holders. Jeremy is quoted saying, “I mean, it's not good for DAOs. The decision crystallizes the fact that we don't live in a decentralized world. DAOs challenge [traditional business] structures, and our [legal] system. That's what you're seeing, potentially—an inherent incompatibility of those two ideas.”
Jeremy notes that the ruling was not a shock in the legal community. He says, "This didn't come as a surprise to anyone who understands what a DAO is, or how partnership law works in the United States.” This is especially apparent because bZx cofounder Kyle Kistner publicly stated that the benefit of transforming bZx from a company to a DAO would be protecting the organization from government oversight and securities-related legal actions. Jeremy says, “They traded a securities problem for a partnership problem. The SEC didn't go after them. The CFTC did.” Jeremy adds that bZx's refusal to register as an LLC in an attempt to avoid personal liability in American business while also engaging in profit-based digital commodity transactions, led to a situation where DAO members were exposed to an unnecessary amount of legal liability.
In conclusion, Jeremy says, “So what if there's an entity? So what if there's some element of centralization? Why is that so bad?”
Read the full article here.
Other Quoted
Jonah Brill and Spouse Emma Brill Featured on Cardozo Law School Podcast
Jonah Brill and his wife Emma Brill are interviewed on their alma mater’s audio publication SPARKS: A Cardozo School of Law Podcast | Cardozo Law. Having met as first-year law students at the Benjamin N. Cardozo School of Law, they discuss how their law school affected their personal lives and chosen career paths. They share their class recommendations, “insights into the complexities of tax law,” and “lessons learned along the way.” Listen here.
April 8 2025
Key Amendments to the New York Rules of Professional Conduct
The New York Law Journal quotes Tyler C. Maulsby on the recently amended Rules of Profesisonal Conduct, which will affect conflicts, screening of laterals, fairness to opposing counsel, and more. View Article
April 1 2025
Duke’s ‘White Lotus’ Cameo Not Likely An IP Problem for HBO
Law360 quotes Kimberly M. Maynard on whether HBO was within its rights to use Duke University's apparel in its artistic expression on the dark comedy show "The White Lotus." Kim argues that when discussing something that's clearly an artistic expression, brand owners' rights are fairly limited by the First Amendment and the Rogers case, even as amended by the Jack Daniels' case. (Behind paywall) View Article
March 31 2025
