Reserve your DAO LLC
Dots Three Outline Vertical Icon
Read our guide
Arrow Top Right Icon

Marshall Islands’ Partnership with MIDAO Grows

By

MIDAO

September 10, 2022

Recently, MIDAO team members, Co-Founder Bobby Muller, and his Nephew Damien Muller presented a ceremonial check to Finance Minister Brenson Wase. The $100,000 is a one-time payment that MIDAO has agreed to pay for the purpose of establishing and growing the regulatory framework of digital assets in the Marshall Islands. The plan is for the RMI to continue to be the leading jurisdiction for DAO incorporation in the world, while potentially expanding its reach to other digital asset innovations. As part of the exciting partnership, MIDAO shares its revenue with the RMI government, and in return, receives exclusivity as the sole registered agent providing legal entities to DAOs in the Marshall Islands.

Marshall Islands’ Partnership with MIDAO Grows

Furthermore, MIDAO has also created a digital portal, in hopes to automate and expedite registration processes for DAOs. Now, the government will be able to monitor each DAO that registers in the RMI and provide the necessary licenses digitally. The portal allows the RMI government regulators as well as MIDAO's third-party KYC providers to partake in diligence at the same time. Bobby explains, “This analysis will leverage industry-leading techniques to mitigate the risks of money laundering, terrorist financing, and other criminal activities.” To read more, check out this wonderful article from the Marshall Islands Journal.

The Journal is also a great place to stay informed about the current Covid-19 outbreak in the Marshall Islands, as well as other local current events. As of August 25th, there were 13,000 positive cases on the Islands. Our hearts go out to the Marshallese community, and all of the individuals touched by this pandemic.