The UAE will introduce a legal framework for DAOs

ChainCatcher news, according to Cointelegraph, the UAE free trade zone RAK Digital Assets Oasis (RAK DAO) plans to introduce a legal framework for decentralized autonomous organizations (DAOs).

Law firm NeosLegal and RAK DAO stated that the new system will be introduced and discussed on October 25. NeosLegal partner Irina Heaver mentioned that the framework is expected to clarify how DAOs can remain legally compliant, and she believes this will have a significant impact on decentralized governance in the UAE and the broader Web3 ecosystem.