News & Analysis as of

Limited Liability Company (LLC) Cryptocurrency

Proskauer - Blockchain and the Law

Part II: With New DAO Law on the Books, Utah Joins Race with Wyoming and Tennessee to Become U.S. “Crypto Capital”

As discussed in Part I of this series, state DAO LLC laws have been enacted in the last several years and have become one option for decentralized autonomous organizations (or DAOs) to create a so-called “legal wrapper” or...more

Patton Sullivan Brodehl LLP

The “DAO Jungle” Chronicles: Federal Court Allows DAO to be Sued as a Partnership

In a prior post — The DAO Jungle? — we recapped the State of Wyoming’s new legislation extending LLC protections to Decentralized Autonomous Organizations (DAOs). Under that Wyoming law, a DAO could register as a LLC and its...more

Farrell Fritz, P.C.

Text Messages Trump Formalities in Ownership Dispute Over Cryptocurrency Business

Farrell Fritz, P.C. on

The emergence of the Limited Liability Company as the preferred form of closely-held business association in New York has spawned a glut of litigation over disputed membership status in LLCs, many of which are covered in the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Putative Class Action Lawsuit Alleges DAO Members Are Jointly and Severally Liable for a Cryptocurrency Hack

A first-of-its-kind putative class action lawsuit filed in the Southern District of California is testing the legal argument that a decentralized autonomous organization (DAO) is a general partnership exposing its members to...more

Allen Matkins

Wyoming vs. Delaware

Allen Matkins on

In 1869, Wyoming became the first state to extend voting rights to women.  In 1977, Wyoming became the first state to enact a law allowing for the formation of a business entity known as a "limited liability company".  Now,...more

Eversheds Sutherland (US) LLP

DAO members may be jointly and severally liable for $55 million crypto theft

On May 2, 2022, a putative class action was filed against a decentralized autonomous organization (DAO) and its members seeking to recover $55 million in cryptocurrency losses stolen during a hack into the DAO’s decentralized...more

Patton Sullivan Brodehl LLP

The DAO Jungle?

A DAO is a Decentralized Autonomous Organization.  It’s a blockchain thing. How do DAOs relate to LLCs?  And why are DAOs the subject of this post on The LLC Jungle blog? Read on…...more

Latham & Watkins LLP

Decentralized Autonomous Organizations Find a Home in Wyoming

Latham & Watkins LLP on

The State of Wyoming is solidifying its position as the friendliest state in the US for digital asset innovation. Although comprehensive digital asset regulation at the federal level remains elusive, US states are angling to...more

Hahn Loeser & Parks LLP

The Anti-Money Laundering Act Of 2020: What Businesses Need To Know Now

The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) enacted earlier this year includes several provisions that may impose new reporting requirements on both foreign and domestic businesses. NDAA is an...more

Fisher Phillips

Wyoming and Vermont Look to Blockchain for Economic Development

Fisher Phillips on

A small number of states see blockchain technology as a way to attract new businesses to their state to spur economic development. In March 2018, Wyoming Governor Matt Mead signed sweeping legislation that makes limited...more

Perkins Coie

Blockchain Week in Review - July 2018

Perkins Coie on

The following update is on our Fintech Legal Report: FINRA Issues a Regulatory Notice for Firms to Let FINRA Know About Digital Asset Activities - U.S. Developments - Regulatory Updates - Vermont Enacts...more

Mintz

TechConnect - Your Law Firm Link to Industry News - January 2018

Mintz on

Letter from the Editors - All everyone can talk about these days are cryptocurrencies and the stock market. While there are still skeptics regarding cryptocurrencies and Initial Coin Offerings (ICOs), there is little doubt...more

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