Getting ready for TRM Talks DAOs on February 28 at 3 PM ET? Check out this primer on DAOs and hear from DAO legal expert Matthew Kaufman of Wyoming law firm Hathaway & Kunz, LLP. Matt was instrumental in his work related to Wyoming’s first-in-the nation cryptocurrency framework, as discussed on TRM Talks Wyoming, and the state’s DAO law.
In April 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). The law went into effect in July 2021. LLCs are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
As explained to Coindesk by TRM Talks alum, Wyoming Sen. Chris Rothfuss, the bill makes the process of a DAO becoming an LLC easier and cheaper. “A lot of our work in Wyoming on blockchain and fintech governance has been focused on providing legal clarity where ambiguity exists before the court needs to decisively weigh in.”
Check out Matt’s legal insights on what the DAO law does, why it matters, and how DAOs, and entities that engage with DAOs, should think about their regulatory requirements. And, tune in for TRM Talks DAOs!
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