The Republic of the Marshall Islands has moved to formally recognize decentralized autonomous organizations, better known as DAOs, as legal entities — a move that gives collectively owned and managed blockchain projects formal recognition on the global stage.

DAOsAfter the amendment to the Non-Profit Entities Act 2021, cryptocurrencies-based entities that are governed by self-organizing groups have been legalized in Marshall Islands. The amendment allowed cryptocurrency trading infrastructure platform Shipyard Software to incorporate the island country’s first DAO, Admiralty LLC. MIDAO Directory Services Inc. assisted in incorporation, a local organization created to aid DAOs register within Marshall Islands.