UAE Region Ras Al-Khaimah Launches Framework for Decentralized Autonomous Organizations in Free Zone

“The introduction of DARe represents a stepping stone in our journey towards building a global hub for the blockchain and digital assets ecosystem,” Luc Froehlich, chief commercial officer of RAK DAO said in the statement. “By offering a structured legal framework, we enable DAOs to interact with the off-chain world, such as opening a bank account and owning both on- and off-chain assets.”