Ras Al Khaimah (RAK) launches a legal framework for DAO in the digital asset free zone with the support of Startup DAO and Alpha DAO 👨‍💻🚀

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Ras Al Khaimah (RAK), one of the emirates of the UAE, has implemented a new legal framework for decentralized autonomous organizations (DAO) in its digital asset free zone.

The DAO Association Regime (DARe) creates a legal framework for managing DAOs and integrating them into the traditional economy. According to Luke Froelich, commercial director of RAK DAO, this opens opportunities for DAOs to obtain bank accounts and manage assets.

DARe supports two types of DAOs: Startup DAO for small projects (up to 100 participants) and Alpha DAO for organizations with a treasury exceeding $1 million. These models simplify legal procedures and provide key resources for growth and expansion.

The main benefits of DARe are tax incentives and legal protection, aligning with the UAE's plans to develop the digital economy and attract global talent.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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