A decentralized autonomous organization (DAO) out of Wyoming is looking to register with the Securities and Exchange Commission (SEC) as a public company, according to a new S-1 filed with the agency.
DAOs are leadership structures for grassroots economies run on the blockchain, and can contain secondary markets for exchanging governance tokens that members use to express consensus on leadership decisions for the group.
American CryptoFed DAO LLC is one of the first DAOs to formally request recognition from the SEC via S-1 registration and touts itself as the first DAO out of Wyoming. Crypto advocates have debated the best way for such decentralized organizations to be recognized by governments, and the U.S> state made a significant mark on the conversation earlier this year. In a hotly-debated law, the state allowed DAOs to be chartered in and recognized by state authorities as limited liability companies.
Though there are multiple paths to compliance, CryptoFed is following W
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