Wyoming’s new Decentralized Unincorporated Nonprofit Act (DUNA) allows the formation of US-based nonprofit organizations suitable for the multibillion-dollar mergers of blockchains that are currently taking place in Asia, such as Kaia with an Abu Dhabi foundation or the Artificial Superintelligence Alliance in Singapore.
The law, effective July 1, is also written to give blockchains using its structure an regulatory advantage under US law. In theory, DUNA would make Wyoming the best place for blockchains with (or desiring) a US footprint to legally locate their governance.
However, the current state of federal regulation of decentralized finance and digital assets means that ...
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