{"id":183857,"date":"2021-03-10T15:54:05","date_gmt":"2021-03-10T15:54:05","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=183857"},"modified":"2022-02-20T14:37:19","modified_gmt":"2022-02-20T14:37:19","slug":"this-u-s-state-could-legally-recognize-ethereum-daos","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/this-u-s-state-could-legally-recognize-ethereum-daos\/","title":{"rendered":"This U.S. state could legally recognize Ethereum DAOs"},"content":{"rendered":"

DAOs are heralded by many to be the next step in the evolution of cryptocurrencies and blockchain technology, and one US state could end up taking that leap of faith…legally speaking.<\/span><\/p>\n

DAO bill in Wyoming<\/b><\/h2>\n

The Wyoming DAO bill passed the Wyoming Senate committee and would soon begin to vote on a bill that allows the formation and operation of legally recognized decentralized autonomous organizations (DAOs).<\/span><\/p>\n

Aaron Wright, the founder of blockchain-backed legal agreement enabler Openlaw and professor of law at Cardozo School of Law, who pushed for the DAO bill, confirmed the development in a tweet.<\/span><\/p>\n

\u201cDAOs took a HUGE step forward today. The Wyoming DAO bill passed the Wyoming Senate committee…This bill is significant,\u201d he said.<\/span><\/p>\n

Wright noted that such a bill would allow developers to create a legal entity that is referred to as a \u201cDAO,\u201d and users to be able to transact with any organization called “XYZ, DAO\u201d without fears of legal repercussions.<\/span><\/p>\n

\n

The bill makes it possible to create an entity that is actually called a "DAO"; that's just really cool.<\/p>\n

You will be able to transact with an organization called "XYZ, DAO."<\/p>\n

— Aaron Wright (@awrigh01) March 9, 2021<\/a><\/p><\/blockquote>\n