Today marks a monumental chapter in the world of Web3-native organizations. Rise, known for its dedication to streamlining crypto <> fiat payroll and compliance operations for decentralized autonomous organizations (DAOs), is excited to announce its partnership with MIDAO, the exclusive registered agent for the revolutionary DAO LLC legal entity in the Marshall Islands.
This partnership is not just a collaboration; it’s a leap towards revolutionizing Web3 legislation. Since early 2022, the Marshall Islands, an idyllic nation in the Pacific Ocean, has been the epicenter of innovative Web3 law. Together with MIDAO, they have crafted what is arguably the most advanced legal structure for Web3 entities — the DAO LLC. This landmark legislation allows organizations to incorporate blockchain-based governance directly into their legal framework, providing the benefits of corporate personhood, tax optimization, and crucially, limited liability protection for their members.
The significance of this partnership cannot be overstated. For the first time, emerging DAOs within the Rise network will have access to a legal entity tailor-made for their unique needs. Rise’s commitment to aiding DAOs in all facets of business, including payroll and compliance, meshes seamlessly with MIDAO’s legal expertise. Together, they stand as a beacon for organizations navigating the complex legal and regulatory Web3 terrain.
The recent amendment to the DAO Act of 2022 by the Marshall Islands, carried out in close cooperation with MIDAO, underscores this commitment to innovation. This historic move simplifies the DAO incorporation process, further cementing the Marshall Islands as a global vanguard for Web3 legal entities. MIDAO’s role as the gatekeeper for these entities ensures that a broad spectrum of Web3 organizations can now establish their DAO LLC or Series DAO LLC with ease, enjoying the benefits of a legal framework that understands their distinctive needs.
Read more about Rise’s Partnership with MIDAO
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