UAE’s Ras Al Khaimah Launches DAO Framework in Digital Asset Free Trade Zone

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UAE’s Ras Al Khaimah Launches DAO Framework in Digital Asset Free Trade Zone In a pioneering move to support the burgeoning decentralized autonomous organization (DAO) ecosystem, Ras Al-Khaimah (RAK), a prominent region within the United Arab Emirates (UAE), has introduced a comprehensive legal framework tailored for DAOs operating within its digital asset free trade zone.

DARe outlines the legal identity of DAOs, defining them as recognized entities within the RAK free trade zone.

Legal ambiguity poses challenges related to regulatory compliance, liability, and operational transparency, hindering the full potential of DAOs in integrating with mainstream financial and legal systems.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaUnited Arab Emirates

Topics: Crypto News DAO

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 13:24:22 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 1001 words

Reading Time: 6 minutes read

Sentences: 51 lines

Sentence Length: 20 words per sentence (average)

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

Copyright Owner: © BitcoinWorld

News ID: 23202139

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