DAOs Are Now Officially Recognized as a New Type of LLC in Wyoming

Will the Aragon Association become a DAO LLC in Wyoming?

AND IT’S OFFICIAL!! 🤠#Wyoming will recognize #DAOs as a new type of LLC, effective July 1! Thank you legislators & @GovernorGordon for building on Wyoming’s history of inventing the LLC, which all other states followed roughly a decade later. We’re doing it again! A thread👇. 1/ pic.twitter.com/4x7VpcPTkk

— Caitlin Long 🔑 (@CaitlinLong_) April 21, 2021

“We look for feedback from the user community to understand any shortcomings of the LLC structure so that we can improve our existing DAO legislation and consider further DAO corporate supplements,” Rothfuss said. “Maybe we need a DAO C-corp next to address other challenges. We’re certainly not done yet.”

Aaron Wright is a professor at Cardozo Law School and Co-founder of OpenLaw. Before this he was a successful entrepreneur, having sold his first company to Wikia – the for-profit version of Wikipedia. Today Aaron is a renowned thought-leader in the blockchain space at the forefront of DAOs. Last year OpenLaw launched The LAO, a DAO on Ethereum for investors looking to earn returns on Ethereum-based projects.

Aaron joins us to share his expert legal knowledge on all things DAO, and discuss his latest projects the LAO and Flamingo DAO.

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What would be the advantage of having a LLC DAO on top of having a DAO on Aragon protected by the Aragon dispute resolution system?
Does a DAO LLC need to be KYC compliant?