“First Limited Liability DAO Launches”
dOrg, a blockchain development cooperative, announced today that it is now the first legally established Decentralized Autonomous Organization (DAO) under United States law. After deploying its DAO to the Ethereum blockchain, dOrg formed a Blockchain-Based Limited Liability Company (BBLLC) in Vermont, dOrg LLC. By linking the DAO to this BBLLC, the DAO has official legal status, allowing it to enter contractual agreements and offer participants liability protections. dOrg’s legal DAO is only the first step in a wider research collaboration to develop best practices and software that automates DAO legal formation. dOrg hopes that these efforts will catalyze a new wave of DAOs that can interoperate with the broader economy.
“STP Raises $750k Through Bittrex IEO”
A token sale for Standard Tokenization Protocol (STP) raised $750,000 and sold out within eight seconds, a news release claimed on June 11. The project says it offers an open-source, decentralized standard for the tokenization and issuance of any asset. As well as being collected as fees and used for gas to help pay compliance validators, STP says its tokens can be staked and “fuel an incentivized governance model that keeps validators efficient and honest.” A total of 75 million STPT tokens were sold during the IEO. As reported by Cointelegraph last month, Standard Tokenization Protocol earlier raised $7 million through two private rounds led by prominent venture capitalists.
“Brazil President Publicly Opposes Bitcoin”
Brazil’s President, Jair Bolsonaro, has come out publicly in opposition to bitcoin. In an interview aired on national television, the Brazilian president commented on cryptocurrency being used to bank indigenous people in Brazil. During a conversation centered on the challenges of his new presidency, Bolsonaro talked about projects created by his predecessor’s administration. One of the efforts was a $11.5 million project that aimed to create an “indigenous cryptocurrency.”
“Coinbase Rolling Out Crypto Debit Cards In More Countries”
Following its launch in the UK in April, Coinbase is rolling out its cryptocurrency debit card to more European countries, despite users reporting numerous problems. The cryptocurrency exchange will be launching its Coinbase Card in six more European nations. As of today, the crypto-funded debit card will be available to users in Spain, Germany, France, Italy, Ireland, and the Netherlands. The debit card lets users spend the cryptocurrency they hold on Coinbase anywhere in the world, providing the store accepts Visa cards as payment.