How to Structure a DAO in Wyoming Without Triggering SEC Unregistered Securities Issues for Token Holders
Wyoming is the only U.S. state with a dedicated “DAO LLC” statute (Wyo. Stat. § 17-31-101 et seq.), and it can materially reduce governance and liability uncertainty—but it does not exempt tokens from U.S. securities laws. Attorneys structuring a Wyoming DAO must design token rights, marketing, and distribution to avoid Howey investment contract risk and […]