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Wyoming committee hears push to carve out DAO governance tokens, debates narrowing taxonomy bill
Summary
Lawmakers and public commenters debated definitions for a proposed digital-assets taxonomy, with DAO organizers urging a clear carveout that governance tokens are not securities. A motion to strip the draft to a single governance-token definition failed and the bill was tabled for further work.
Members of a Wyoming legislative select committee continued work on a proposed digital-assets taxonomy and heard public comment Wednesday on whether the bill should retain a broad set of token definitions or be narrowed to a single governance-token definition. Presenters representing decentralized autonomous organizations (DAOs) urged the panel to adopt explicit language saying governance tokens represent voting rights and are not securities. Lawmakers debated whether to move forward with a narrow governance token bill or keep the broader taxonomy and asked staff to circulate suggested language for follow-up work.
The matter drew sustained public comment from organizers of the American CryptoFed DAO, who described their organization…
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