Setting Up a Wyoming LLC for Digital Assets: The Complete Process #
Wyoming built the legal framework specifically for this. The state wants your LLC business, and they made it straightforward to form entities that hold Cryptocurrency with better privacy and protection than anywhere else in the country.
Start with choosing and reserving your LLC name. Check availability through the Wyoming Secretary of State website, reserve it if needed, and pick a registered agent in Wyoming. The registered agent is who receives legal mail on behalf of your LLC. Using a professional registered agent instead of yourself keeps your personal name off public records. The organizer name shows up instead of yours, which matters if you care about privacy.
File your Articles of Organization with the Wyoming Secretary of State and pay the filing fee, typically around $100. The state processes filings in one to ten business days depending on whether there are name conflicts or other issues. If you use a professional service, expect formation in two to four business days. The registered agent also provides a Wyoming business address for official mail, which preserves your anonymity and supports the charging order protection that makes Wyoming attractive.
The operating agreement is where most people either get it right or create problems they’ll deal with for years. You need a crypto-specific operating agreement, not a generic template downloaded from the internet. The customization matters because Cryptocurrency Custody and transfers work differently than traditional assets.
Your operating agreement should specify whether you have single-member or multi-member ownership, what powers the manager has, and who becomes successor manager if something happens to you. Include a schedule of wallets attached to the operating agreement listing each Wallet address, the Cryptocurrency ticker, the amount held, and your valuation method. Get this schedule notarized for timestamped proof of your intent to transfer assets into the LLC.
Custody rules need explicit definition in the operating agreement. Are you using self-Custody with a D’Cent Cold Wallet, multisignature requirements, or institutional custody? What are the signing thresholds for moving funds? Do you maintain a whitelist of approved addresses? What happens in an emergency if the person holding the Wallet becomes incapacitated? Write all of this down before you need it.
The operating agreement should require written actions and resolutions for transfers, distributions, gifts, loans, and adding new assets. Every time you move Cryptocurrency or change the LLC’s holdings, you document it with a written consent or resolution. This keeps your onchain activity matching your corporate records and maintains the corporate veil that protects you from personal liability.
Get an EIN from the IRS for your LLC. This takes ten minutes online and you need it to open a bank account. Use the EIN to open an LLC bank account and business Exchange accounts. Never commingle personal and LLC funds. The bank account name and Exchange account names should match your LLC name exactly. Mercury and Axos are common choices for business banking. Coinbase offers business accounts but the fees vary. Some people prefer Uphold or Kraken for business onboarding.
Corporate veil Compliance is what separates legitimate LLCs from shells that collapse under legal pressure. You need an initial member resolution, bank signature cards, LLC meeting minutes, annual resolutions, and organized recordkeeping. Keep a folder with your operating agreement, EIN Confirmation, certificate of organization, and all resolutions. Never pay LLC expenses from personal accounts. Document every transfer as a written action in your LLC records.
Transfer your Cryptocurrency into the LLC once formation is complete. Document the transfer with an assignment of membership interest or an entry in your schedule of assets. Get it notarized. Record the Wallet addresses and transaction IDs. Store your Cold Wallet Seed Phrase in a secure location, ideally split between multiple locations, or use institutional Custody if your holdings justify it.
Trust layering adds Succession Planning on top of the LLC structure. A revocable living trust in your home state can hold the LLC membership interest to avoid probate when you die. Your family inherits the trust, the trust owns the LLC, the LLC owns the Cryptocurrency. Everything passes without court involvement. For stronger creditor protection when your asset size justifies it, consider an irrevocable asset protection trust instead of a revocable trust. Form the trust separately from the LLC, then assign the LLC membership interest to the trust and update your beneficiary and successor clauses.
Ongoing maintenance requires filing an annual report with Wyoming and paying your registered agent fees, usually around $150 plus the state’s annual report fee. Keep yearly minutes even if nothing significant happened. Record all written actions throughout the year. Don’t commingle funds between personal accounts and LLC accounts. Run distributions according to documented resolutions. Review whether you need to foreign qualify your LLC in another state if you have significant physical presence or business activity outside Wyoming.
You can do this yourself but the risks of privacy loss and documentation mistakes make professional services worth considering for material holdings. A professional package typically runs around $2,000 for formation with a customized operating agreement and EIN. They handle the corporate veil documentation program and help with KYB and KYC onboarding to Custody partners. DIY is possible but you’re saving a few hundred dollars while potentially creating structural problems that cost thousands to fix later.
The timeline from start to finish runs two to four business days with a professional service, up to ten business days if you’re filing manually or dealing with name conflicts. Most of the time is waiting for state processing and getting your EIN confirmed.
Wealth management firms like Digital Wealth Partners focus on growing your assets and providing fiduciary guidance on your Investment Strategy. They help you make smart allocation decisions and manage risk. The entity formation, operating agreement customization, and corporate Compliance work requires coordination beyond standard investment advisory services.
Digital Ascension Group handles the complete setup and ongoing coordination. They work with Wyoming formation specialists, draft crypto-specific operating agreements, coordinate trust layering for Succession Planning, and maintain the documentation that keeps your structure legitimate. They’re also the ones who tell you when your asset size justifies the complexity and when simpler structures accomplish the same goals.
Contact Digital Ascension Group to learn how our Family Office services can coordinate your complete financial picture.
