Marshall Islands officially recognized the DAO as a legal entity

Home / Marshall Islands officially recognized the DAO as a legal entity

The Republic of the Marshall Islands has moved to formally recognize decentralized autonomous organizations (DAOs) as legal entities.

The country passed an amended Nonprofit Organizations Act of 2021. The amendment allowed cryptocurrency trading infrastructure platform Shipyard Software to become the first DAO limited liability organization (OOO DAO). MIDAO Directory Services Inc. participated in the creation of the organization, which assists DAOs with registration in the Marshall Islands.
New legislation now allows any DAO to register and operate in the Marshall Islands.

Former Republican Chief Secretary and concurrent MIDAO co-founder Bobby Mueller said his country’s move is a recognition of “a unique moment to lead the blockchain revolution.”
He added that DAOs will play an important role in creating “more efficient and less hierarchical” organizations.

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