Wyoming has made a pioneering move in the blockchain industry by granting decentralised autonomous organisations (DAOs) the ability to legally form contracts, open bank accounts, pay taxes, and offer liability protection for their members.

This groundbreaking legislation was signed into law by Governor Mark Gordon, following a proposal by the state's special committee on blockchain, financial technology, and digital innovation.

The legal framework specifically facilitates the establishment and operation of decentralised unincorporated nonprofit associations (DUNAs) within Wyoming.

DAOs are now officially recognised entities that can compensate their members, even as a reward for participating in governance activities, aligning with the web3 community values and fostering a new way for digital asset holders to engage in economic activities.