Recognizing DAOs As Companies - Wyoming Senate.
2021-03-11 | Mike Hallen
Legislation recognizing DAOs [Decentralized Autonomous Organizations] as companies were approved by the Wyoming state senate earlier on Tuesday.
The
bill now proceeds to
choose the Wyoming House of Representatives, where
it'll become law if
it's passed unaltered.
Wyoming would be
the primary United States state to pass such legislation into law.
DAOs are firms whose governance
is made on smart contracts and where
deciding is shared around the organization rather than being centralized under a boss or executive.
This legislation would permit DAOs
to line up in Wyoming, adding greater legitimacy to
crypto-asset projects and additional enhancing the state's reputation as a blockchain-friendly jurisdiction
for brand new businesses.
The state also introduced a bill earlier in February
to create a blockchain-based system for firms to file reports, data & other information as required by law.
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