The Ras Al Khaimah Digital Assets Oasis (RAK DAO), a free economic zone in the United Arab Emirates that focuses on digital assets, has recently announced their plans to introduce a legal framework for decentralized autonomous organizations (DAOs).
The framework will be discussed at the DAO Legal Clinic on Oct. 25, which is being jointly organized by RAK DAO and law firm NeosLegal.
According to Irina Heaver, a partner at NeosLegal, the new framework will provide clarity on how DAOs can remain legally compliant.
This is expected to have a significant impact on decentralized governance and the broader Web3 ecosystem in the UAE.
The new framework will address all legal and governance requirements for DAOs, including the establishment of a legal structure.
