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The governor of Wyoming, USA signed a bill on encryption to promote the recognition of DAO as a legal entity

The governor of Wyoming, USA signed a bill on encryption to promote the recognition of DAO as a legal entity

2024/03/08 14:31

The Governor of the Republican Party in Wyoming, Mark Gordon, signed the "Decentralized Unincorporated Nonprofit Association Act," a landmark legislation that establishes a framework for recognizing DAOs as legal entities. The new structure grants DAOs legitimate existence, allowing them to enter into contracts with third parties and appear in court. At the same time, DAOs can pay taxes and assume limited liability for the actions of other members. If a DAO violates the law, this structure will not prevent regulatory enforcement.

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