According to a report by Fortune Magazine, the state of Wyoming is looking to solidify its position as a crypto-friendly state with the recent signing of the Decentralized Unincorporated Nonprofit Association Act.
The legislation establishes a legal framework for Decentralized Autonomous Organizations (DAOs) and addresses a significant challenge in fitting these entities into existing financial regulations, as increased scrutiny of the nascent crypto industry becomes paramount.
The move demonstrates Wyoming’s increased intent to foster blockchain innovation and attract new blockchain companies to the state.
Wyoming Pioneers Crypto-Friendly Environment In The US
According to the report, Wyoming has long positioned itself as a leading state for the industry, similar to Delaware’s status in corporate law.
The state has been forward-thinking in introducing measures to attract blockchain companies, and the Decentralized Unincorporated Nonprofit Association Act is the late
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