How Wyoming Became a Crypto Hub cryptobriefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cryptobriefing.com Daily Mail and Mail on Sunday newspapers.
A bill was introduced in January to give company status to DAOs.
Today it passed the first hurdle in the Senate, but it still has a long way to go.
Share this article
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.”