BanklessDAO
BanklessDAO
/
Legal Guild
Legal Guild
/
👩‍⚖️
Legal Guild Weekly
👩‍⚖️

Legal Guild Weekly

Date
Oct 21, 2021
Type
Weekly
Attendance
Note-taker
Created time
Oct 21, 2021
Last edited time
Jan 23, 2022
Last edited by
Text
  1. Update on funding:
    1. We will be splitting 40000 Banks next week for Newsletter 0.
    2. We will be re-evaluating the asks from the grant committee.
  1. Legal newsletter (final decisions on issue 0)
    1. The newsletter is now almost ready. More images are to be added and we need to summarise two more articles. An image for the cover is required as well.
    2. We need to look for copyright-free images.
    3. GC spoke about the editing task.
    4. Articles for the next newsletter will be decided next week.
  1. News from the DAO
    1. We can propose a new project for better use of the legal guild’s time.
    2. We could start advising other guilds with respect to their functioning.
    3. Schwarze Katze floated the idea of having a legal office (hours) which can be like a legal clinic. We could basically get a disclaimer signed.
  1. Publication of the token legal research!
    1. Token Legal Narrative will be presented as a medium post and will be also be mentioned in the newsletter.
  1. NFT Case
    1. NFThinker brought the issue of a copied work which was basically used as POAP (NFT) by a designer for the education guild. Schwarze Katze advised that burning the stolen art NFT is the most important first step.
    2. The use of copyrighted works has become an issue. Question: Can a celebrity picture (edited) be minted as an NFT without copyright issues. Eagle advised that the images modified used should be copyright free.
    3. Design Guild requires proper terms and conditions with respect to liability issues. Eagle advised that the first draft of T&C should be submitted to the legal guild. Legal guild offered that the legal guild could prepare the draft from the beginning as well. Rotorless advised that the on-boarding T&C can shift the liability to the artist by taking consent. LarryFlorio's agreement was mentioned.
  1. Entity for Bankless DAO:
    1. Eagle wants the legal guild to come up with the proposal. We basically need an entity with a bank account. We can create a non-profit in Swiss jurisdiction that will basically represent the DAO. We need a non-US crypto-friendly organisation.
    2. We could associate with shadow banks that legally operate in the EU. However, the problem is that the transfer of crypto created by DAO requires KYC.
    3. If we set up an entity in the US, someone will have to file returns and become the owner. The flow from DAO will be subject to US law.
    4. The main concern is getting assets from the entity to DAO.
  1. New Members:
    1. DeFiPHX#0383 is a seasoned lawyer working as GC for a PE firm.
BanklessDAO
BanklessDAO
/
Legal Guild
Legal Guild
/
👩‍⚖️
Legal Guild Weekly
👩‍⚖️

Legal Guild Weekly

Date
Oct 21, 2021
Type
Weekly
Attendance
Note-taker
Created time
Oct 21, 2021
Last edited time
Jan 23, 2022
Last edited by
Text
  1. Update on funding:
    1. We will be splitting 40000 Banks next week for Newsletter 0.
    2. We will be re-evaluating the asks from the grant committee.
  1. Legal newsletter (final decisions on issue 0)
    1. The newsletter is now almost ready. More images are to be added and we need to summarise two more articles. An image for the cover is required as well.
    2. We need to look for copyright-free images.
    3. GC spoke about the editing task.
    4. Articles for the next newsletter will be decided next week.
  1. News from the DAO
    1. We can propose a new project for better use of the legal guild’s time.
    2. We could start advising other guilds with respect to their functioning.
    3. Schwarze Katze floated the idea of having a legal office (hours) which can be like a legal clinic. We could basically get a disclaimer signed.
  1. Publication of the token legal research!
    1. Token Legal Narrative will be presented as a medium post and will be also be mentioned in the newsletter.
  1. NFT Case
    1. NFThinker brought the issue of a copied work which was basically used as POAP (NFT) by a designer for the education guild. Schwarze Katze advised that burning the stolen art NFT is the most important first step.
    2. The use of copyrighted works has become an issue. Question: Can a celebrity picture (edited) be minted as an NFT without copyright issues. Eagle advised that the images modified used should be copyright free.
    3. Design Guild requires proper terms and conditions with respect to liability issues. Eagle advised that the first draft of T&C should be submitted to the legal guild. Legal guild offered that the legal guild could prepare the draft from the beginning as well. Rotorless advised that the on-boarding T&C can shift the liability to the artist by taking consent. LarryFlorio's agreement was mentioned.
  1. Entity for Bankless DAO:
    1. Eagle wants the legal guild to come up with the proposal. We basically need an entity with a bank account. We can create a non-profit in Swiss jurisdiction that will basically represent the DAO. We need a non-US crypto-friendly organisation.
    2. We could associate with shadow banks that legally operate in the EU. However, the problem is that the transfer of crypto created by DAO requires KYC.
    3. If we set up an entity in the US, someone will have to file returns and become the owner. The flow from DAO will be subject to US law.
    4. The main concern is getting assets from the entity to DAO.
  1. New Members:
    1. DeFiPHX#0383 is a seasoned lawyer working as GC for a PE firm.