Legal Guild Weekly
Date
Nov 9, 2021
Type
Attendance
Note-taker
Created time
Nov 9, 2021
Last edited time
Jan 23, 2022
Last edited by
Text
Welcome of new members
- eth introduced himself and he says he is good at making memes ο.
Decentralized Law Newsletter
- All the pieces have been allotted and the same will be submitted before 15 November.
News from the DAO (especially - governance proposal)
- Frogmonkey has written a governance proposal. It solves the quorum issue. Legal guild is encouraged to take part in it.
- Level 1 and 2 members were encouraged to participate in the latest cord. round.
Entity discussion - Special focus on entities for (1) Bankless Merch Store and (2) Bankless Consulting
- Larry will be presenting an idea for DAO entity incorporation soon. The ENS example was used here.
- The Cayman foundation idea has been receiving a lot of praise. However, FATF guidance has made things a little uncertain. According to Omen, the Cayman rules will be released soon.
- The Merch Store and Bankless Consulting Company need an interim bank account ASAP to set up their business.
- Eagle stated that the question remains that who will pay for the incorporation process? Bankless DAO canβt fund the process of its own incorporation.
- Dionne elaborated upon the requirements regarding the merch store. She stated that the store must be able to receive payments in crypto. The goal is to enable bankless coin holders to buy real-world products with bankless. However, the payment channel for accepting crypto is being explored.
- Bankless is not equipped to work with Web 2.0 companies with an unincorporated legal structure. Eagle also proposes that members should now propose an amount for research.
White Paper
- EU regulators have now defined the requirements for the white paper. Hence, Eagle has proposed that we create one keeping the requirements in mind.
- Jalaj719 proposed a research project on taxation. It will help many people getting paid in crypto to learn more about taxation.