Wyoming One Step Closer to Passing Landmark DAO Law

Wyoming lawmakers today came closer to putting a law into place that would grant company status to decentralized autonomous organizations (DAOs). 

At the Wyoming Legislature’s Corporations, Elections & Political Subdivisions Meeting, the Senate approved Bill 38, introduced in January, through the first committee hearing. 

The bill wants to make DAOs recognized by state authorities and grant them the ability to form as limited liability companies (LLCs). 

But it still has a long way to go. Matt Kaufman, an attorney and partner at Hathaway&Kunz law firm who explained the bill at the meeting, told Crypto Briefing that although he was “super pleased,” the bill “still has a way to go before it’s final.” 

He added: “Wyoming legislature continues to embrace the fast-changing digital asset landscape and think of ways we can help facilitate new innovation.”