KlimaDAO supports US legislators to finalize crypto regulation bill for DAO

The KlimaDAO platform has partnered with Tusk Strategies, helping US lawmakers further refine the definition of DAO in the crypto regulation bill in this country.

Project DAO with the aim of creating environmental improvement solutions built on Polygon – KlimaDAO (KLIMA), announced Their legal team is working with Senators Cynthia Lummis and Kirstin Gillibrand to provide the regulatory framework for DAOs in the “Responsible Financial Advancement Act” introduced by both politicians in June. 2022. Essentially, the bill above aims to bring clarity to the crypto industry, outlining how crypto assets should be properly managed. In addition, the text also includes definitions of crypto as well as other terms that have not been established by legislators, including DAOs.

Through its legal support, KlimaDAO hopes the law will help legitimize the project's work in providing carbon-backed tokens that can be used to offset emissions. . “We are honored to have had the opportunity to work with Senators Cynthia Lummis, Kirstin Gillibrand and their staff, to help shape such an important bill,” the project said.

In addition, Sam Emmes - a member of KlimaDAO's strategic partner group, also revealed that he received the help of lobbying firm Tusk Strategies in providing his opinions to the founders. law above. Interestingly, KlimaDAO has become one of the projects that billionaire Mark Cuban has great expectations of.

Tusk Strategies is a company owned by renowned political strategist and venture capitalist Bradley Tusk, which has been supporting legal and investing in crypto pioneers for many years. KlimaDAO was chosen in part by Tusk Strategies because of its work with OlympusDAO, a decentralized reserve currency protocol based on the OHM token, the name that made the community "wobble" with the wave of DeFi 2.0 starting to gain popularity. around the end of the fourth quarter of 2021.

However, the explosion of DeFi 2.0 so far is still considered a fad, because after two weeks of creating a certain amount of attention from the community, the DeFi 2.0 token group "divided" two” in just 24 hours, making most investors “scared”.

Back to the topic of the article, KlimaDAO's latest move has "indirectly" fueled Polygon's goal of becoming carbon neutral in 2022. In support of this mission, Polygon will use data from KlimaDAO, to calculate and offset the carbon associated with its business, and will purchase $400,000 of carbon periodically through the organization.

Because, it is easy to see that both KlimaDAO and Polygon are taking advantage of the "environment" to create friendliness with the authorities, thereby promoting further legislation for the DAO – The model is considered to bring quite comprehensive decentralization to the Web3 space. In fact, to date, there have been two jurisdictions that recognize the DAO as a legal organization including the Marshall Islands and the state of Wyoming.

Crypto Fox News Summary

Sep 04, 2022