UAE’s Free Economic Zone to Introduce Legal Framework for DAOs

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UAE’s Free Economic Zone to Introduce Legal Framework for DAOs   The Ras Al Khaimah Digital Assets Oasis (RAK DAO), a free economic zone in the UAE focused on digital assets, is set to introduce a comprehensive legal framework for decentralized autonomous organizations (DAOs), according to a report by Cointelegraph.

With initiatives like RAK DAO, the country is offering a favorable regulatory environment that caters to the unique needs of blockchain-based projects, providing them with legal clarity, tax advantages, and access to a thriving digital ecosystem.

This initiative will further position the UAE as a global leader in the blockchain and digital assets space, providing decentralized organizations with the regulatory infrastructure needed to succeed in a fast-evolving digital economy.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: Crypto News UAE

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 09:15:38 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 750 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 23117524

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News Last Updated: 9 hours ago

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