Article by Nate DiCamillo (@Nate_DiCamillo); published on CoinDesk.com, April 22nd, 2021
Wyoming Gov. Mark Gordon signed the state’s DAO-focused Bill 38 into law, allowing Wyoming to recognize DAOs as limited liability corporations (LLCs), effective July 1.
LLCs are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. DAOs are online collectives of like-minded investors relying on Ethereum’s underlying smart-contract technology to make shared decisions.
Notably, Wyoming DAO LLCs have to be domiciled in the state, which could be a point of confusion for denizens of the decentralized web. DAOs can use a registered agent to maintain a presence in the state, the law states.