# surveillance state over DAOs

Source: https://x.com/RyanSAdams/status/1828117816278732849
Kiwi News: https://news.kiwistand.com/stories/surveillance-state-over-DAOs?index=0x66ccc71ae338dc454885ce9498f5ed966c3c30fd9d3d0468db0d06a183fdb056a2808ed8
Submitted by pfedprog.eth on 2024-08-26 UTC, 1 upvote, 0 comments

## Summary

Reporting rules for U.S. LLC owners are presented as evidence that the surveillance state will not allow DAOs, and that the state wants control rather than innovation, efficiency, freedom, or progress. Starting this year, all U.S. LLCs must report each owner's name, date of birth, and government ID number to FinCEN, or face $500 per day plus possible jail time. The requirement is described as part of a 2021 law, effective in 2024, meant to "stop illicit activities," and as creating a mega database of everyone who owns everything. Optimism about crypto and nation-state progress is described as having declined.

## Article

Starting this year all LLC's in the U.S. must report all their owners - name, DOB, gov number to FinCEN. Or else its $500 per day plus jail time.

A mega database of everyone that owns everything.

Part of the Corporate Treasury Act signed in 2021 and put into effect in 2024 to "stop illicit activities". 

There's no way the surveillance state will let us have DAOs.

I think i've been more optimistic on crypto + nation state progress in the past - i'm far less optimistic now.

The state doesn't want innovation, or efficiency, or freedom, or progress for its citizens.

The state wants control.