A Wyoming-based Decentralized Autonomous Organization (DAO) which goes by the name of American CryptoFed DAO LLC has become one of the first entities of its type to officially file and declare its registration with the Securities and Exchange Commission (SEC) in the United States of America.
The S-1 registration form and process were made possible thanks to new legislation called ‘Senate Bill 38’ that was introduced by the state of Wyoming on 04 July 2021. S-1 and the Senate Bill 38 enables DAOs to register with the state legally and officially as ‘limited liability corporations (LLCs).
Earlier this year, the company made headlines for becoming one of the first legally recognized DAOs in the USA. Acceptance of the filing made by American CryptoFed DAO LLC is still currently pending, and the document submitted to the SEC is publicly available for viewing online.