Wyoming has enacted the pioneering Decentralized Unincorporated Nonprofit Association Act (DUNA), officially recognizing Decentralized Autonomous Organizations (DAOs) as legal entities. Signed by Republican Governor Mark Gordon, this landmark legislation, supported by a16z crypto, positions Wyoming as the leading crypto-friendly state. The DUNA allows DAOs to enter into contracts, pay taxes, and offers limited liability for its members, setting it apart from other legal structures. Effective from July 1, 2024, the law is heralded as a significant step for integrating blockchain networks within the U.S. legal framework without compromising decentralization. Industry experts and legal professionals have praised the law for its innovative approach, suggesting it could become the industry standard for U.S. blockchain networks.
Wyoming passes a law granting DAO's legal status. It is time to follow with other states. https://t.co/pnGn6LsL90
Wyoming has established a new legal framework for in-state DAO nonprofits that has crypto investment giant Andreessen Horowitz (a16z) calling the state an "oasis." https://t.co/dZj1eqfKTz
Wyomingโs new legal entity structure, the โDecentralized Unincorporated Nonprofit Associationโ (DUNA) provides a framework for achieving the decentralization of internet public infrastructure. An opinion: https://t.co/zWQ9FYOT7i
WYOMING ENACTS LAW TO RECOGNIZE DAOs AS LEGAL ENTITIES Wyoming's governor, Mark Gordon, signed into law the Decentralized Unincorporated Nonprofit Association Act on March 7. It addresses challenges in integrating DAOs into existing financial regulations. Source: Fortune https://t.co/tsuCilajWp
Wyomingโs New #DAO Law Bolsters Its Reputation as a #Crypto Friendly State https://t.co/mpPWMppk3K
Wyoming Gov. Mark Gordon Signs Legislation Recognizing #DAOs โ #cryptoregulation https://t.co/mpPWMppk3K
๐๐ผ๐ฟ๐ป ๐๐ผ๐ผ ๐น๐ฎ๐๐ฒ ๐๐ผ ๐ฒ๐ ๐ฝ๐น๐ผ๐ฟ๐ฒ ๐๐ฎ๐ฟ๐๐ต.. ๐๐ผ๐ฟ๐ป ๐๐ผ๐ผ ๐ฒ๐ฎ๐ฟ๐น๐ ๐๐ผ ๐ฒ๐ ๐ฝ๐น๐ผ๐ฟ๐ฒ ๐๐ต๐ฒ ๐จ๐ป๐ถ๐๐ฒ๐ฟ๐๐ฒ.. โจ๐ฝ๐ค๐ง๐ฃ ๐๐ช๐จ๐ฉ ๐๐ฃ ๐ฉ๐๐ข๐ ๐ฉ๐ค ๐๐ญ๐ฅ๐ก๐ค๐ง๐ ๐ฉ๐๐ ๐๐๐ฉ๐๐ซ๐๐ง๐จ๐โจ #Decentraland #DCL #DCLfam #Metaverse #Web3 #Web3Gamingโฆ https://t.co/Y0XeAgUhS1
"Wyoming Decentralized Unincorporated Nonprofit Association Act protects DAO member privacy from the federal government."
Is crypto-friendly Wyoming the new "oasis" for DAOs? @jesseahamilton reports https://t.co/p8iAmMyp5Z
Wyoming wants to become the Delaware of DAOs with new crypto law for decentralized autonomous organizations. https://t.co/5ozHbglrzW
Wyomingโs new law is the latest in a multi-year effort to create DAO legislation https://t.co/AYFUpqhhVf
Over the last 3 years, hundreds of founders have asked me whether there exists an ideal entity structure for DAOs. Until today, there was no good answer. Wyoming is bringing innovation back to the US with DUNAs, and I'm so excited to see what comes of it ๐ https://t.co/I9tnHazcGr
The first DAO to become a DUNA https://t.co/rS79Qn76eE https://t.co/zNhJUrnYoL
So, about that DUNA thing. I was not a fan of Wyoming's last attempt at passing a DAO law. I am reading the DUNA law now and... goddamn. It's so much better. The issue with the last DAO law Wyoming passed is that it was basically a rebadged member-managed LLC. It did notโฆ
So, about that DUNA thing. I shit all over Wyoming last time it passed its DAO law. I am reading the DUNA law now and... goddamn. It's so much better. The issue with the last DAO law Wyoming passed is that it was basically a rebadged member-managed LLC. It did not haveโฆ
Wyoming passes the Decentralized Unincorporated Nonprofit Association Act, a framework to recognize DAOs as legal entities; a16z crypto supported the law (@leomschwartz / Fortune) https://t.co/hcch3L3Edy ๐ซ Subscribe: https://t.co/OyWeKSRpIM https://t.co/H84zkmtCFz
Congrats @milesjennings and the rest of the @a16zcrypto legal + regulatory team for all the work that went into Wyoming's DUNA bill for DAOs ๐๐๐ https://t.co/WmCWoX2kum
States often act as proving grounds for innovative policy. Wyoming's Governor has signed a law establishing the DUNA legal entity for DAOs. Great to see states thinking about solutions to complex problems. https://t.co/hvyQa7Frlm
โโชโฉโง is here DAOs finally have a native, tailor made entity https://t.co/BAii3U9QaL
Wyoming governor signs into law a bill to give DAOs legal standing in the state https://t.co/fFvY7Om8kv
The State of Wyoming passed a landmark crypto bill to bring DAOs under the purview of existing laws and address pain points synonymous with decentralized organizations https://t.co/I6Mydq0Lqb
Would your #DAO consider incorporating in Wyoming?
We now have a law that allows DAOs to operate legally in the way they were intended - decentralized and permissionless ๐ฅ Congrats to @milesjennings who worked tirelessly to bring this to life ๐ https://t.co/U4rMnNcXsc
Huge news for expanding the ways in which DAOs can legally operate. https://t.co/x37kt16yRm
Mark Gordon, the Republican governor of Wyoming, signed the Decentralized Unincorporated Non-Profit Association Act into law, establishing a framework for recognizing DAOs as legal entities. The new structure gives the DAO a legal existence, allowing it to enter into contractsโฆ
The new Wyoming law gives DAOs legal existence, enables them to pay taxes, and provides them with limited liability from the actions of other members. "This new entity structure is likely to become the industry standard for blockchain networks created in the United States." https://t.co/P42Hm7KWHj
๐ฅ ๐ฅ๐ฅ Wyoming passed a new law yesterday to recognize DAOs as legal entities, which will enable blockchain networks to operate w/i the bounds of applicable laws without compromising their decentralization. Law goes into effect 7/1/24. Why is this so significant? Among otherโฆ https://t.co/zJjVSH9v1t
Wyoming passed a new law creating a legal structure for DAOs, furthering its status as the nation's friendliest state toward crypto. I spoke with @rothfuss and @milesjennings about the bill: https://t.co/7HuchaRiXs
This is huge news for DAOs. Registering as a DUNA legal entity will enable DAOs to engage in legal contracts with other entities and provide legal protection to individual DAO members. Other legal entities available to DAOs fall short on these metrics. Learn more fromโฆ https://t.co/j16Zr3xkw1
Miles dropped this like 30 seconds too late to be included in the Weekly Dose of Optimism, but DUNAs are hugely optimistic for DAOs. A Wyoming law that lets DAOs operate without fear. Plus really good Dune meme game, for a lawyer. https://t.co/m0TXtgTy7K
๐จBig News๐จWyoming just enacted a game-changing law for web3. It creates a new entity for DAOs โ the Decentralized Unincorporated Nonprofit Association (DUNA) โ thatโs been years in the making. @CowrieLLC and I provide everything you need to know below: https://t.co/ah7uA78mc2
exactly. ppl shit on daos but they have been the core organizing principal of nearly every small to mid sized project, with some becoming majors. dont think wed be this far along without them, warts and all https://t.co/yerkOZcJF2