• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Bautis Financial

Bautis Financial

Secure your Castle, Achieve your Dreams.

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Wyoming Becomes The First State to Legally Recognize Decentralized Autonomous Organizations (DAO) – Daily Flash Briefing

July 8, 2021 by Bautis Financial
Decentralized Autonomous Organizations

CryotoFed DAO becomes the first legally recognized decentralized autonomous organization in the United States.

The state of Wyoming has become the first in the United States to approve and legally recognize a Decentralized Autonomous Organization, or DAO. 

A DAO is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a single institution like a government or central bank. In many cases, virtual currencies make use of this decentralized status to attain levels of privacy and security that are typically unavailable to standard currencies and their transactions.

The move by Wyoming became official when the American CryptoFed DAO received notice from the Wyoming Secretary of State’s office that it had been acknowledged as a legal business entity. 

Marian Orr, CEO of the American CryptoFed DAO said, “Wyoming is the leading digital assets jurisdiction in the US, and now with this DAO law, Wyoming is arguably the top blockchain jurisdiction in the world.”

She went on to say, “What this means is that creating a true digital currency with mass acceptance is now possible.”

Earlier this year, Wyoming also became the first state in the US to pass legislation into law that recognizes DAOs as a distinct form of limited liability companies, or LLCs, beginning July 1st, 2021.

Get instructions on how to enable our Flash News Briefing skill to your Amazon devices:

Bautis Financial’s Amazon Alexa Daily Flash News Briefing
Category: Finance NewsTag: Cryptocurrency, DAO, Decentralized Autonomous Organizations, Digital Currency, Finance Trends, Money News, Money Trends
Previous Post: « June 2021 Jobs Report June 2021 Jobs Report: U.S. Adds 850,000 Jobs
Next Post: Bautis Financial Advisor Commentary: July 8, 2021 Bautis FInancial Advisor Commentary »

Subscribe to Our Insights

Sign up to receive valuable financial insight and updates straight to your inbox each week.

Social

Follow along on social media

Contact

Bautis Financial
7 North Mountain Ave
Montclair, NJ 07042
Get directions
862-205-5800
Contact

Navigation

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Copyright © 2023 · Bautis Financial · All Rights Reserved · Powered by Mai Theme

Return to top