{"id":283821,"date":"2022-12-22T19:00:20","date_gmt":"2022-12-22T19:00:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=283821"},"modified":"2022-12-22T18:33:03","modified_gmt":"2022-12-22T18:33:03","slug":"marshall-islands-passes-law-recognizing-daos-as-legal-entities","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/marshall-islands-passes-law-recognizing-daos-as-legal-entities\/","title":{"rendered":"Marshall Islands passes law recognizing DAOs as legal entities"},"content":{"rendered":"

The Republic of the Marshall Islands (RMI) announced<\/a> on Dec. 22 that it had enacted the Decentralized Autonomous Organizations Act of 2022. <\/span><\/p>\n

The law formally recognizes DAOs and allows legal entities registered in the country to adopt DAO structures and governance tools.<\/span><\/p>\n

The Decentralized Autonomous Organization Act of 2022 will provide both profit and non-profit DAOs the option to register under the internationally recognized LLC structure. <\/span><\/p>\n

Further, the law will recognize the governance, voting, and tokenization processes of DAOs as legal. <\/span><\/p>\n

The newly passed bill aims to attract DAOs and Web3 leaders by setting up a DAO registry process facilitated by MIDAO, a local company.<\/span><\/p>\n

Additionally, as part of the bill, the government will create an investment fund to promote further education and training on DAOs.<\/span><\/p>\n

Earlier in November, Marshall Islands also <\/span>announced<\/span><\/a> plans to introduce its own cryptocurrency as a form of legal tender alongside the U.S. dollar.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Republic of the Marshall Islands (RMI) announced on Dec. 22 that it had enacted the Decentralized Autonomous Organizations Act of 2022. The law formally recognizes DAOs and allows legal entities registered in the country to adopt DAO structures and governance tools. The Decentralized Autonomous Organization Act of 2022 will provide both profit and non-profit […]<\/p>\n","protected":false},"author":1393,"featured_media":283871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,77419],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nMarshall Islands passes law recognizing DAOs as legal entities<\/title>\n<meta name=\"description\" content=\"The new bill creates a DAO registry process that will be assisted by MIDAO, a local company, in order to attract DAOs and Web3 pioneers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/marshall-islands-passes-law-recognizing-daos-as-legal-entities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marshall Islands passes law recognizing DAOs as legal entities\" \/>\n<meta property=\"og:description\" content=\"The new bill creates a DAO registry process that will be assisted by MIDAO, a local company, in order to attract DAOs and Web3 pioneers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/marshall-islands-passes-law-recognizing-daos-as-legal-entities\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-22T19:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-22T18:33:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image_2022-12-22_233202880.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Soumen Datta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Soumen Datta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/marshall-islands-passes-law-recognizing-daos-as-legal-entities\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/marshall-islands-passes-law-recognizing-daos-as-legal-entities\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#person\",\"name\":\"Soumen Datta\",\"url\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"caption\":\"Soumen Datta\"},\"jobTitle\":\"Journalist\",\"description\":\"Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects. 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