The United Arab Emirates (UAE) is set to introduce a legal framework for decentralized autonomous organizations (DAOs) through the Ras Al Khaimah Digital Assets Oasis (RAK DAO). Scheduled discussions for the new regime are set for October 25, where the framework aims to clarify legal compliance and governance requirements for DAOs, including tax obligations, property ownership of both on-chain and off-chain assets, and legal protection against personal liability for founders and contributors. Notably, DAOs can be registered without a physical presence in the UAE, facilitating entry into the region’s virtual assets sector. Legal frameworks for DAOs are also available in Switzerland, but the UAE’s framework promises a more cost-effective process, starting at $3,000 compared to $46,000 in Switzerland. This initiative is viewed as a significant step for the UAE in strengthening its position as a global hub for blockchain innovation and attracting international entrepreneurs and developers.

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