Law360 (July 23, 2021, 4:16 p.m. EDT) – Despite being the legal seat of 67.8% of all Fortune 500 companies, Delaware faces an unlikely competitor in the blockchain space.

This competitor has overtaken Delaware’s legislative progress, is claimed by Forbes[1] being the “Delaware of digital asset law,” and sparked rumors that it could undermine Delaware’s dominance as US registered capital.

That first unexpected driver is Wyoming. This year, Wyoming became the first state to legally recognize Decentralized Autonomous Organizations, or DAOs,[2] as a new form of LLC.

This is important because it marks the dawn of a new type of business …

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