👩‍⚖️

Legal Guild Weekly

Date

Nov 4, 2021

Type

Weekly

Attendance

Note-taker

Created time

Nov 4, 2021

Last edited time

Jan 23, 2022

Last edited by

Text

Introduction and Newsletter

OxDomino introduced himself, he is a Private Equity Lawyer.

Amoyed is a Chillian lawyer and a new member of the legal guild.

Eage promoted the newletter. Next Newsletter:

Jalaj (Wyoming Law)

Omen (Article)

TaxPanda

HiroKennely

TaxPanda

Eagle will create the draft soon. 15 November is the soft deadline for the article and the same should be ready by 2022 The issue is about, ‘How to be crypto lawyer?’.

Legal Entity DAO

Rotorless gave two options which have been floating:

A single entity which enshrines the whole DAO.

A subordinate entity owned by the Bankless DAO.

Rotorless proposes a new entity which will be a separate entity that can indulge in transactions with third parties and acts as a middleman between the Bankless DAO and the real world. A DAO can pay the entity a fees and the same will be responsible for transactions with notion, LinkedIn etc. and the same can also be

This organization will be a limited by guarantee company and the same will not have any shareholders. There will be no identifiable owners. MoU of the company can circumvent a lot of conventional rules if such circumventing rules are mentioned while the same is incorporated.

Banking is a huge issue for a DAO. If such an entity is incorporated in Canada, banking will be very easy to obtain, and Canadian banks have a huge global reach.

Incorporation in Canada will give the DAO more credibility as compared to incorporation in panama/isle of man.

If the tax paying function is given to a tax paying entity and the same is at an Arm’s length from the DAO, the same solves a lot of issues and government will be a lot less suspicious as the same is not incorporated in panama/isle of man.

The biggest issue remains that someone should be willing to put their name on the incorporated company.

Lastly, such an entity can give grants to relevant entities and the same can also advertise Bankless at huge events to get the same credibility.

The proposed entity will have no power over the DAO. The only person exposed is the person who is the founding member of the entity. DAO members can’t be traced.

It was stated that in the Articles of the Association of the entity, it can be stated that the ‘decisions of the entity’ will be corresponding to the decisions of the members of the DAO.

MoU and AoA can be used to circumvent a lot of laws Canadian domestic laws as long as the organization is not indulging in illegal activities.

It was also proposed that the swiss model must also be looked at to look at the positives and negatives. Swiss corporation model is used globally and many MNCs use it.

EAGLE suggested that there should be a proper proposal with 4-5 options and the same can be voted upon. To act upon the proposal, funding is required.

Legal Guild Weekly

Date

Nov 4, 2021

Type

Weekly

Attendance

Note-taker

Created time

Nov 4, 2021

Last edited time

Jan 23, 2022

Last edited by

Text

Introduction and Newsletter

OxDomino introduced himself, he is a Private Equity Lawyer.

Amoyed is a Chillian lawyer and a new member of the legal guild.

Eage promoted the newletter. Next Newsletter:

Jalaj (Wyoming Law)

Omen (Article)

TaxPanda

HiroKennely

TaxPanda

Eagle will create the draft soon. 15 November is the soft deadline for the article and the same should be ready by 2022 The issue is about, ‘How to be crypto lawyer?’.

Legal Entity DAO

Rotorless gave two options which have been floating:

A single entity which enshrines the whole DAO.

A subordinate entity owned by the Bankless DAO.

Rotorless proposes a new entity which will be a separate entity that can indulge in transactions with third parties and acts as a middleman between the Bankless DAO and the real world. A DAO can pay the entity a fees and the same will be responsible for transactions with notion, LinkedIn etc. and the same can also be

This organization will be a limited by guarantee company and the same will not have any shareholders. There will be no identifiable owners. MoU of the company can circumvent a lot of conventional rules if such circumventing rules are mentioned while the same is incorporated.

Banking is a huge issue for a DAO. If such an entity is incorporated in Canada, banking will be very easy to obtain, and Canadian banks have a huge global reach.

Incorporation in Canada will give the DAO more credibility as compared to incorporation in panama/isle of man.

If the tax paying function is given to a tax paying entity and the same is at an Arm’s length from the DAO, the same solves a lot of issues and government will be a lot less suspicious as the same is not incorporated in panama/isle of man.

The biggest issue remains that someone should be willing to put their name on the incorporated company.

Lastly, such an entity can give grants to relevant entities and the same can also advertise Bankless at huge events to get the same credibility.

The proposed entity will have no power over the DAO. The only person exposed is the person who is the founding member of the entity. DAO members can’t be traced.

It was stated that in the Articles of the Association of the entity, it can be stated that the ‘decisions of the entity’ will be corresponding to the decisions of the members of the DAO.

MoU and AoA can be used to circumvent a lot of laws Canadian domestic laws as long as the organization is not indulging in illegal activities.

It was also proposed that the swiss model must also be looked at to look at the positives and negatives. Swiss corporation model is used globally and many MNCs use it.

EAGLE suggested that there should be a proper proposal with 4-5 options and the same can be voted upon. To act upon the proposal, funding is required.