Regulators in the American state of Wyoming, known for its friendly attitude to cryptocurrencies, approved the launch of the first Autonomous Decentralized Organization (DAO) in the United States.
The license was obtained by American CryptoFed DAO. The DAO registration letter came from the Wyoming Secretary of State back on July 1st.
“Wyoming is the leading jurisdiction in the United States in regulating digital assets, and now, with a new DAO law, it is arguably the best jurisdiction for blockchain companies in the world. It is now truly a reality to create a true digital currency with mass adoption, ”said Marian Orr, CEO of American CryptoFed DAO.
The Merchant Advisory Group, which includes 165 of the largest US traders, welcomed the approval of the first DAO in the US. As Group Leader John Drechny noted, the Group has always welcomed competition in the payments industry.
The American CryptoFed DAO aims to promote a dual token economy that is not subject to inflation or deflation. To this end, the organization released the Ducat algorithmic stable token for commission-free transactions. The token is released on the EOS blockchain. The company also launched the Locke token to manage and stabilize the Ducat token.
As a reminder, the Governor of Wyoming signed the DAO registration bill in April this year. It went into effect on July 1, and the American CryptoFed DAO jumped at the opportunity right away.

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.