Summary
TLDR: Blockchain groups now recognized as decentralized unincorporated nonprofit associations, giving them protections and empowering them to keep networks open and fair.
Key Points
1. The new designation as “decentralized unincorporated nonprofit associations” (DUNAs) is considered a major breakthrough by Miles Jennings, general counsel at a16z Crypto.
2. DUNAs will provide blockchain stewards with much-needed protections and empower them to keep blockchain networks open, according to Jennings.
3. This recognition will help ensure that blockchain networks remain open, do not discriminate, and do not unfairly extract value, as stated in a blog entry posted by a16z Crypto.