The Marshall Islands officially recognizes the DAO as a legal entity

time:2022-02-16 06:00 source:Internet

On February 16, the Republic of the Marshall Islands, a Pacific island country keen to adopt blockchain technology, has officially amended the "Non-Profit Entity Law" to recognize Decentralized Autonomous Organizations (DAOs) as legal entities. It is reported that the amendment has allowed crypto trading infrastructure platform Shipyard Software to register the island nation’s first DAO, Admiralty LLC. The Marshall Islands is an independent island nation located in the Pacific Ocean near the equator, with a population of about 59,000 as of 2019, according to the World Bank. Since 2018, the island nation has been actively exploring use cases for digital assets.

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