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.
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