Wyoming has laws that recognize decentralized autonomous organizations (DAOs). According to § 17-
31-104. Definition and election of decentralized autonomous organization status., a DAO is defined as a
limited liability company (LLC) whose articles of organization contain a statement that the company is a
decentralized autonomous organization § 17-31-104. Definition and election of decentralized autonomous
organization status..
Additionally, § 17-31-103. Application of Wyoming Limited Liability Company Act. states
that the Wyoming Limited Liability Company Act applies to DAOs to the extent that it is not inconsistent with
the provisions specific to DAOs § 17-31-103. Application of Wyoming Limited Liability Company Act..
Furthermore, § 17-31-105. Formation. outlines the formation process for DAOs, indicating that any person
may form a DAO by signing and delivering the articles of organization to the secretary of state. The statute
also specifies that DAOs may operate for any lawful purpose, whether for profit or not § 17-31-105.
Formation..
The articles of organization for a DAO must include a publicly available identifier of any smart contract directly used to manage, facilitate, or operate the DAO, as per § 17-31-106. Articles of organization.. This statute also governs various aspects of the DAO, including member relations, rights and duties, activities, and dispute resolution § 17-31-106. Articles of organization..
In summary, Wyoming law explicitly recognizes and provides a legal framework for the formation and
operation of DAOs, treating them as a specific type of LLC with additional requirements and provisions § 17-
31-104. Definition and election of decentralized autonomous organization status., § 17-31-103. Application of Wyoming Limited Liability Company Act., § 17-31-105. Formation..
§ 17-31-104. Definition and election of decentralized autonomous organization status. | WY – Wyoming
Statutes Annotated | Codes | Wyoming
§ 17-31-103. Application of Wyoming Limited Liability Company Act. | WY – Wyoming Statutes Annotated |
Codes | Wyoming
§ 17-31-105. Formation. | WY – Wyoming Statutes Annotated | Codes | Wyoming
§ 17-31-106. Articles of organization. | WY – Wyoming Statutes Annotated | Codes | Wyoming