BanklessDAO
BanklessDAO
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Operations Department
Operations Department
/
📖
Notion Administration
/
Top-Level BanklessDAO Notion Pages
Top-Level BanklessDAO Notion Pages
/
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Projects
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Fight Club
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🗨️
Social Media
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Legal AMA

Legal AMA

Topic
Guest
SM Type
Scheduled Date
Feb 21, 2023
FC Member
Created by
  1. It seems that the SEC is driving regulatory measures recently with Kraken, Paxos vs Binance, and the new 'qualified custodian' proposal. How does this affect the current crypto landscape? And what will regulators in other jurisdictions do?
    1. Evan: From a US perspective: Tread lightly and try to remain within regulations
    2. Jonathan: From a Global perspective, projects are more likely to incorporate offshore and avoid the US customer base.
      1. anyone trying to operate within the US is getting targeted (Paxos)
    3. Otonomos: Pure DeFi offerings seem like a potential solution, but this space is being overrun by Wall Street players
    4. Teresa: no one wants to take charge
  1. For fundraising projects, what are the considerations for using specific structures - SAFE, SAFT, SAFE + token warrants?
    1. Evan: SAFT is starting to be viewed as security
      1. token SAFE warrants are seen as additional to equity
    2. Otonomos:
  1. Does the type of project make a difference in terms of structure - i.e. DeFi, gaming, infrastructure, NFTs?
  1. Are there any new regulatory issues that fundraising projects need to consider in a bear market?
  1. What options do DAOs have for incorporation? Should they even incorporate or was Ooki DAO a one-off?
  1. The CFTC has routinely claimed that DeFi derivative projects should be registered and regulated by the CFTC. How would this affect current projects going forward?
Summary: this is a game of cat and mouse, Fuck Around and Find Out, Get proper legal advice, find the right lawyer (if you don’t think they’re right, find a new one)
BanklessDAO
BanklessDAO
/
Operations Department
Operations Department
/
📖
Notion Administration
/
Top-Level BanklessDAO Notion Pages
Top-Level BanklessDAO Notion Pages
/
🚧
Projects
/
🥊
Fight Club
/
🗨️
Social Media
/
Legal AMA

Legal AMA

Topic
Guest
SM Type
Scheduled Date
Feb 21, 2023
FC Member
Created by
  1. It seems that the SEC is driving regulatory measures recently with Kraken, Paxos vs Binance, and the new 'qualified custodian' proposal. How does this affect the current crypto landscape? And what will regulators in other jurisdictions do?
    1. Evan: From a US perspective: Tread lightly and try to remain within regulations
    2. Jonathan: From a Global perspective, projects are more likely to incorporate offshore and avoid the US customer base.
      1. anyone trying to operate within the US is getting targeted (Paxos)
    3. Otonomos: Pure DeFi offerings seem like a potential solution, but this space is being overrun by Wall Street players
    4. Teresa: no one wants to take charge
  1. For fundraising projects, what are the considerations for using specific structures - SAFE, SAFT, SAFE + token warrants?
    1. Evan: SAFT is starting to be viewed as security
      1. token SAFE warrants are seen as additional to equity
    2. Otonomos:
  1. Does the type of project make a difference in terms of structure - i.e. DeFi, gaming, infrastructure, NFTs?
  1. Are there any new regulatory issues that fundraising projects need to consider in a bear market?
  1. What options do DAOs have for incorporation? Should they even incorporate or was Ooki DAO a one-off?
  1. The CFTC has routinely claimed that DeFi derivative projects should be registered and regulated by the CFTC. How would this affect current projects going forward?
Summary: this is a game of cat and mouse, Fuck Around and Find Out, Get proper legal advice, find the right lawyer (if you don’t think they’re right, find a new one)