Blockchain technology is profoundly resource-intensive and will only contribute to the surge in data center project proposals. Registration and regulation of the companies operating on it will ease that surge. The Southwestern Virginia Transparency Alliance therefore supports HB293.

I am The head of government affairs for DNA fund one of the largest crypto organizations in the world. Including the founders of tether the world's leading stable coin.

I respectfully submit this testimony in support of the Limited Liability Decentralized AutonomousOrganization (LLD) Act. This legislation represents an important step toward ensuring that Virginia remains competitive, innovative, and forward-looking as new forms of business organization continue to develop. Decentralized autonomous organizations (DAOs) are increasingly used to coordinate real economic activity through transparent, programmable governance mechanisms built on blockchain technology. Several states have already recognized the importance of providing legal clarity for decentralizedorganizations. Wyoming pioneered DAO-recognized LLCs, while Tennessee, Utah, and Vermont have adopted or expanded frameworks supporting blockchain-enabled entities. These jurisdictions are actively attracting new businesses and investment by offering certainty rather than ambiguity. Virginia should not fall behind this curve. The LLD Act provides a clear legal structure for decentralized organizations to operate responsibly within the Commonwealth. By establishing formation requirements, governance documentation, record-keeping obligations, and limited liability protections, the bill brings DAOs within a recognized legal framework instead of leaving them to operate in regulatory gray areas or outside Virginia entirely. This bill also supports real-world, non-speculative blockchain applications. DAOs have the potential to introduce healthy competition and more democratic participation models across industries such as technology, energy, supply chains, creative industries, and cooperative enterprises. Virginia has an opportunity to lead in these practical, economy-building use cases rather than reacting after other states have already set the standards. While no legislation addressing emerging technology is perfect at inception, the LLD Act strikes an appropriate balance between innovation and oversight. Advancing this bill allows regulators, courts, and stakeholders to gain practical experience and refine the framework over time based on real-world outcomes. I support moving this bill beyond subcommittee so that Virginia can actively shape the future of decentralized business governance. Thoughtful leadership today will ensure that innovation happens here—transparently, responsibly, and under the rule of law. Thank you for your consideration and your commitment to Virginia’s economic future.