SB1030 proposes recognizing decentralized unincorporated nonprofit associations, defining digital assets, and enabling governance through smart contracts, now headed to the Senate Judiciary Committee.
West Virginia has introduced SB1030, a bill aimed at granting legal recognition to decentralized autonomous organizations (DAOs) by formally defining them as decentralized unincorporated nonprofit associations. The proposed law would identify and define digital assets while allowing governance through smart contracts, a self-executing blockchain code. The measure has been referred to the Senate Judiciary Committee, marking a step toward integrating blockchain-based entities into the state's legal framework.