Wyoming—the first US state to grant a charter to a crypto bank—has approved legal status for a decentralized autonomous organization (DAO), the American CryptoFed DAO, according to an announcement on Sunday. The organization, which has a mission to introduce a new monetary system, now becomes the first legally recognized DAO in the U.S.
It comes after Wyoming lawmakers voted in March to pass a bill allowing DAOs to be officially registered in the state. The law affords these entities—which are governed by smart contracts and dispense with the hierarchical control structure seen in traditional companies—the same rights as a limited liability company. The bill came into effect on July 1, 2021.
What Is a Decentralized Autonomous Organization (DAO)?
The legislation makes it easier and cheaper to set up a DAO and give legitimacy to many cryptocurrency projects, Aaron Wright, a professor at Cardozo Law School in New York and DAO-founder, told Decrypt back in March. It enables DAOs t
Źródło: https://decrypt.co/75222/americas-first-dao-approved-in-wyoming
