The Network State Podcast

#10 - The Crypto Islands

5 snips
Jan 28, 2024
The architects of the DAO law and the founder of MIDAO discuss the new bill passed in the Marshall Islands that allows setting up DAOs in 30 days. They also explore the legal protections and benefits of the DAO law for web3 projects, the advantages of the Marshall Islands for crypto entrepreneurs, and the challenges of setting up bank accounts for DAO clients.
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ANECDOTE

SOV Law

  • In 2018, the Marshall Islands passed the SOV law, making a cryptocurrency legal tender.
  • This faced criticism from global institutions but taught them about crypto.
INSIGHT

Why DAO Laws Matter

  • Legacy laws often hinder DAOs by requiring disclosures and traditional structures.
  • The new DAO law addresses these issues by defining blockchain terms and adapting regulations.
ADVICE

Setting Up a DAO

  • Contact MyDAO (midao.org) to register a DAO LLC in the Marshall Islands.
  • They offer guidance, connect you with lawyers, and navigate the process.
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