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 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. Matt joins TRM Talks to share 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.

This podcast is hosted by TRM Labs, a blockchain analytics company. We work with crypto businesses, financial institutions and government agencies to monitor, detect and investigate fraud and financial crime in crypto. Learn more about our mission to build a safer financial system for billions of people here: https://www.trmlabs.com/about