The upper house of Wyoming’s legislature passed a bill that, if approved, would pave the way for decentralized autonomous organizations or DAOs to be included in state law.

 

New law

According to public records, the draft bill passed on Wednesday with 2 negative votes against 28 accepted votes was submitted to the State House of Representatives the same day. On Thursday, the bill was formally introduced and transferred to the Business and Economic Development committee of this parliament.

If the House of Representatives passes the bill, any discrepancies between the two chambers will need to be corrected before it is sent to Wyoming Governor Mark Gordon for signature.

The bill is the first of its kind and will form a legal link between the so-called decentralized organizations and a US state. Wyoming has gained a reputation as an industry-friendly state following previous legal developments and the establishment of crypto-focused banks there.

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