UAE lawyer Irina Heaver told Cointelegraph that the framework would allow even smaller DAOs to operate legally.
The Ras Al Khaimah Digital Assets Oasis (RAK DAO), a free economic zone in the United Arab Emirates focused on digital assets, is set to introduce a legal framework for decentralized autonomous organizations (DAOs).
In an announcement sent to Cointelegraph, law firm NeosLegal and RAK DAO said the new regime will be introduced and discussed at the DAO Legal Clinic on Oct. 25.
Irina Heaver, a partner at NeosLegal, told Cointelegraph that the framework is expected to clarify how DAOs can remain legally compliant, which she believes will significantly impact decentralized governance and the broader Web3 ecosystem in the UAE.
