UAE has introduced a legal framework to boost the operation of DAOs (Decentralized Autonomous Organizations).
The Ras Al Khaimah Digital Assets Oasis (RAK DAO) is introducing this legal framework to provide legal and governance clarity for DAOs.
The framework will clarify tax obligations and benefits, protect founders and members from personal liability, enable legally binding contracts, and establish rules for dispute resolution.
This legal framework is expected to attract more entrepreneurs and developers to the UAE's digital asset market.