The state of Wyoming legalized the activities of the DAO

Governor of Wyoming (USA) Mark Gordon signed the Decentralized Unincorporated Nonprofit Act (DUNA), providing DAO with legal status.

The document will allow the DAO to operate within the framework of current US law, enter into contracts with third parties, open bank accounts, appear in court and pay taxes, noted Miles Jennings, chief legal counsel of a16z Crypto.

“Despite the “non-profit organizations” in the name, DUNA will be able to engage in commercial activities and pay reasonable compensation to its members for any services to the ecosystem. This opens up a huge scope for designing protocol economic models,” he explained.

The lawyer called the document a “major breakthrough” against the backdrop of regulatory attacks.

The bill classifies DUNA as a separate legal entity, allowing the DAO to be held accountable for its actions without involving its individual members.