UAE to introduce legal framework for DAOs

BlockBeats news, October 18, according to Cointelegraph, the UAE Free Trade Zone RAK Digital Assets Oasis (RAK DAO) plans to launch a legal framework for decentralized autonomous organizations (DAOs).

Law firm NeosLegal and RAK DAO said the new system will be introduced and discussed on October 25.

NeosLegal partner Irina Heaver said the framework is expected to clarify how DAOs can maintain legal compliance, which she believes will have a significant impact on the UAE's decentralized governance and the broader Web3 ecosystem.