{"id":24096,"date":"2023-10-19T12:07:08","date_gmt":"2023-10-19T12:07:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uaes-ras-al-khaimah-launches-free-zone-for-digital-assets-and-web3\/"},"modified":"2023-10-19T12:07:08","modified_gmt":"2023-10-19T12:07:08","slug":"uaes-ras-al-khaimah-launches-free-zone-for-digital-assets-and-web3","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uaes-ras-al-khaimah-launches-free-zone-for-digital-assets-and-web3\/","title":{"rendered":"UAE&#8217;s Ras Al Khaimah launches free zone for digital assets and Web3"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697714769211-e3f7b291-8ff3-4151-aaeb-2445d448ecd0-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697714769211-e3f7b291-8ff3-4151-aaeb-2445d448ecd0-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697714769211-e3f7b291-8ff3-4151-aaeb-2445d448ecd0-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1697714769211-e3f7b291-8ff3-4151-aaeb-2445d448ecd0-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Ras Al Khaimah, UAE, has introduced RAK DAO, a free zone dedicated to digital assets and Web3.<\/li>\n<li>RAK DAO will offer entrepreneurs 100% ownership of their businesses and a unique regulatory framework.<\/li>\n<li>The UAE continues to attract global crypto and Web3 firms through progressive regulatory measures.<\/li>\n<\/ul>\n<p>Ras Al Khaimah, one of the seven Emirates of the United Arab Emirates (UAE), has unveiled its latest initiative to diversify its economy by launching the RAK Digital Assets Oasis (RAK DAO), a dedicated free zone for digital and virtual asset companies.<\/p>\n<p>In a move to attract global <a href=\"https:\/\/coinjournal.net\/news\/tag\/crypto\/\">crypto<\/a> players, the emirate is positioning itself as a forward-thinking hub for emerging technologies.<\/p>\n<h2>A purpose-built free zone for digital assets<\/h2>\n<p>RAK DAO is poised to become the world\u2019s first free zone solely dedicated to digital and virtual asset companies, creating a purpose-built ecosystem for entrepreneurs from around the globe.<\/p>\n<p>This free zone is designed to support companies involved in cutting-edge technologies, including the metaverse, blockchain, utility tokens, virtual asset wallets, nonfungible tokens (NFTs), decentralized autonomous organizations (DAOs), decentralized applications (DApps), and other Web3-related businesses.<\/p>\n<p>Entrepreneurs within the free zone will have 100% ownership of their businesses and enjoy unique tax schemes and regulatory frameworks. While RAK DAO is expected to begin with non-financial activities, it may introduce financial activities at a later stage, underlining the emirate\u2019s commitment to innovation and regulatory compliance.<\/p>\n<h2>UAE\u2019s attraction for crypto and Web3 firms<\/h2>\n<p>The <a href=\"https:\/\/coinjournal.net\/news\/monthly-report-dubai-attracts-top-cryptocurrency-exchanges\/\">UAE has been actively courting crypto and blockchain firms<\/a> with a progressive regulatory environment.<\/p>\n<p>Dubai introduced a virtual assets law and the Virtual Asset Regulatory Authority to safeguard investors and establish industry standards. Additionally, the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Centre (DIFC) have their own financial regulators, offering attractive free zones for digital asset businesses. The Dubai Virtual Assets Regulatory Authority went ahead and even launched <a href=\"https:\/\/coinjournal.net\/news\/dubais-virtual-assets-regulatory-authority-to-launch-headquarters-in-the-sandbox\/\">headquarters in The Sandbox<\/a> in May 2022.<\/p>\n<p>Several crypto firms have since secured operational licenses to operate in Dubai. Some of the companies that have acquired licenses to operate in Dubai include Binance, which was <a href=\"https:\/\/coinjournal.net\/news\/binance-becomes-first-exchange-to-secure-operational-mvp-license-in-dubai\/\">the first to acquire an MVP license in Dubai<\/a>, Crypto.com, and OKX.<\/p>\n<p>Ras Al Khaimah\u2019s RAK DAO complements the more than 40 multidisciplinary free zones in the UAE, further positioning the country as a destination of choice for crypto, <a href=\"https:\/\/coinjournal.net\/news\/tag\/blockchain\/\">blockchain<\/a>, and Web3 enterprises.<\/p>\n<p>Applications for RAK DAO are open, offering entrepreneurs and digital asset companies a new opportunity to thrive in this burgeoning industry. This initiative signifies the UAE\u2019s commitment to fostering innovation and embracing the future of finance and technology.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/uaes-ras-al-khaimah-launches-free-zone-for-digital-assets-and-web3\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Ras Al Khaimah, UAE, has introduced RAK DAO, a free zone dedicated to digital assets and Web3. RAK DAO will offer entrepreneurs 100% ownership of their businesses and a unique regulatory framework. The UAE continues to attract global crypto and Web3 firms through [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":24097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24096"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24096"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24097"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}