UAE will introduce legal framework for DAO

On October 18th, according to Cointelegraph, the RAK Digital Assets Oasis (RAK DAO) in the UAE Free Trade Zone plans to launch a legal framework for decentralized autonomous organizations (DAOs). Law firms NeosLegal and RAK DAO stated that the new system will be introduced and discussed on October 25th. NeosLegal partner Irina Heaver stated that the framework is expected to clarify how DAOs can maintain legal compliance, which she believes will have a significant impact on decentralized governance and the broader Web3 ecosystem in the UAE.