Tag: Islands

JPMorgan enters the metaverse, Marshall Islands legalizes DAOs, Feb. 10-16

boss

Last week’s Crypto Biz newsletter explained how Wall Street is essentially marketing Bitcoin (BTC) for us after Wells Fargo said digital assets could “soon hit a hyper-inflection point” in terms of adoption. This week, JPMorgan Chase issued its own bullish outlook when it labeled the metaverse a $1 trillion a year opportunity.  In addition to JPMorgan, the New York Stock Exchange (NYSE) this week sent out a strong signal that nonfungible tokens (NYSE) and the metaverse are part of its long-term plans. On the regulatory front, the Republic of the…

JPMorgan enters the Metaverse, Marshall Islands legalizes DAOs, Feb. 10–16

Last week’s Crypto Biz newsletter explained how Wall Street is essentially marketing Bitcoin (BTC) for us after Wells Fargo said digital assets could “soon hit a hyper-inflection point” in terms of adoption. This week, JPMorgan Chase issued its own bullish outlook when it labeled the Metaverse a $1 trillion a year opportunity.  In addition to JPMorgan, the New York Stock Exchange (NYSE) this week sent out a strong signal that nonfungible tokens (NFTs) and the Metaverse are part of its long-term plans. On the regulatory front, the Republic of the…

The Republic of the Marshall Islands Allows Registration of DAOs as Legal Entities – Regulation Bitcoin News

boss

The Republic of the Marshall Islands has announced it will allow decentralized autonomous organizations (DAOs) to become legal entities. At the time of writing, only one DAO has successfully incorporated in the country. DAOs Will Be Allowed to Register as Legal Entities The Republic of the Marshall Islands (RMI) has said it will allow decentralized autonomous organizations (DAOs) to register as legal entities. The move, which has been made by the recent passage of the Non-Profit Entities (Amendment) Act 2021, makes it possible for DAOs to be “recognized by the…

Marshall Islands officially recognizes DAOs as legal entities

boss

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.  DAOs, which are blockchain-based entities governed by self-organizing communities, have attained legal recognition in the Marshall Islands after the country passed the amended Non-Profit Entities Act 2021. The amendment allowed cryptocurrency trading infrastructure platform Shipyard Software to incorporate the island country’s first DAO, Admiralty LLC. The incorporation was aided by MIDAO Directory…

How the Marshall Islands Is Trying to Become a Global Hub for DAO Incorporation

“We think of [decentralized exchanges] and DAOs as ships. They live in international waters, right?” Mark Lurie, CEO of Shipyard Software, told CoinDesk in an interview. “So when trying to figure out where to incorporate [Shipyard Software], we realized, Oh, let’s look at ships. And it turns out ships are all registered in the Marshall Islands. And that’s what led us here.” Source