Finnish Minister of Communications Calls for EU Legislation to Recognize DAOs

Finnish Communications Minister Timo Harakka said at a panel discussion at this year's World Economic Forum that the European Union should consider legislation to recognize decentralized autonomous organizations (DAOs) that manage Web3 applications, CoinDesk reported. Timo Harakka said the move would avoid changing thousands of laws while avoiding vicious competition among the EU's 27 member states.