By recognizing DAOs as legal entities, Wyoming's Decentralized Unincorporated Nonprofit Association Act enables these organizations to engage in formal business activities without altering their decentralized nature.

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"The Decentralized Unincorporated Nonprofit Association Act introduces a novel legal entity for DAOs, differentiating them from conventional corporations such as LLCs."

"The DUNA act grants DAOs legal existence, allowing them to enter contracts, open bank accounts, appear in court, and pay taxes."

The DUNA helps DAOs accomplish this by solving three of the key challenges they face – it gives them legal existence, enabling them to contract with third parties and appear in court, it enables them to pay taxes and it provides them with limited liability from the actions of other members. All of these are commensurate with other legal entity forms and are table stakes for building in America