NEW: Wyoming Passes Bill to Recognize DAOs Legally, Governor Approves

Wyoming has taken a significant leap forward in supporting decentralized autonomous organizations (DAOs) by introducing a new legal status specifically for DAO nonprofits. This move, making Wyoming an attractive “oasis” for such entities, has caught the attention of leading crypto investment firm Andreessen Horowitz (a16z). The state’s governor, Mark Gordon, recently signed a bill into law, expanding Wyoming’s already progressive DAO regulations to include the option for DAOs to register as unincorporated nonprofit associations. This development is seen as a “major breakthrough” by a16z’s general counsel, Miles Jennings, who believes it will provide DAOs with crucial protections. These include legal recognition, the ability to contract with third parties, and limited liability, ensuring the blockchain network remains open and equitable. a16z has expressed its intention to guide the DAOs it supports to take advantage of this new opportunity in Wyoming, highlighting the state’s pioneering role in the crypto-friendly legislative landscape. This strategic move aims to empower DAOs, bolstering their legal standing and operational efficiency.

Bill

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