Abu Dhabi Unveils Regulatory Framework for Decentralized Autonomous Organizations (DAOs) and Distributed Ledger Technology (DLT)
Abu Dhabi, the second-most populous emirate in the UAE, has introduced a regulatory framework for decentralized autonomous organizations (DAOs) and other entities built on distributed ledger technology (DLT). This marks the first step towards such a framework by a Middle Eastern territory. The new framework allows DAOs to operate legally and issue tokens to their members, providing regulatory clarity for firms in the digital assets sector. Abu Dhabi is aiming to become a crypto hub alongside Dubai, and this move is part of a larger initiative to foster initiatives in the broader blockchain and digital asset realm.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Terraform Labs secures court approval to wind down in bankruptcy
Turkish Capital Markets Board Publishes New Regulations For Cryptocurrency Exchanges
According to a new official document published by the CMB, there will be significant changes in the cryptocurrency field.
US prosecutors oppose Mango Market exploiter's motion for acquittal
Dfinity, Cambodia agree on advancing smart city innovation