The fourteenth meeting
Attendees:
Josh Tan, Adam Miller (MIDAO), Andrei (dOrg), Cent Hosten, Corinna Schlicht (Giveth, Regens Unite). Daniel (Colony), Eugene (SCRF, Metagov), Honn (Uniswap), Joni Pirovich (LawFi DAO), Ivan, Lance Davis (Metagov), Manboy / David Phelps (dOrg), Tyler Sullberg (4k Protocol), Tomicah, Ken Ng (Uniswap), Morshed Mannan, Tomicah Tillermann (Haun Ventures)
Agenda
- ETH Denver announcements
- DAOIP table near main DAO stage
- DAOstar House (2349 Champa Street) for working groups and discussions. Come hang out with other DAO people, or book an event here
- DAOstar grants management project
Joni Presenting
How can compliance and self regulation be a DAO superpower?
- AML: DAOs are Defi might be subject to AML regulation in EU - marked as “contentious”, supposed to be finanlised by end of March to go to a vote
- Requirement upon DAOs to finally hire compliance team
- Unclear what constitutes DAOs as worth of having legal regulation - or not
- the proposal in short is a DAOstar registry interface, similar to companies maintained by the oversight body of companies. Registered DAOs receiving DAO* designation - very basic level
- picks up on the DAO Model Law, formation requirements, smart contract audit, etc.
- gives the public graduating levels of confidence
- wants to build it as a modular approach, other modules like privacy, legal asset permissions, etc.
DAO* Designation - requirements
- registry
Discussion and Q&A
- legally speaking, this API is what I own and publish
- not judicial like “this is an LLC, etc.”
- Morshed: some states in the US do have anonymous LLCs, e.g. Utah
- Alabama, Colorado, Delaware and Wyoming among others. But even more allow anonymous members for example
- what is the justification for more demanding requirements to be posed onto DAOs, when there are things such as the anonymous LLCs
- DAO Model Law + DAO* design
- non-web3 native govt officials - they want to have resources allocated for company regulators to have a registry
- prefer we as our industry having own database, prove that we reach that level of equivalence while being privacy preserving
- Adam Miller/ MIDAO: how to talk to gov’t and have their ear
- Joni: Singapore - crypto licensing framework - a lot of skepticism with DAOs - the battleground is of definitions & the level of decentralisation justified it being legally recognised
- Joni: we are fighting for the experimental freedom
- Josh: can we go back to thinking about more fundamental questions of why some regulations are there in the first place - why is it Limited Liability in the first place?
- use this opportunity to re-imagine a registration system
- that we can benefit from as the entire ecosystem
- independent of if they want to get legal benefit or not
- makes sure they are participating as, e.g. “good citizens”? economic sense?
- and use it to convince regulators
- Morshed: I would be happy to write a few pages on the history of limited Liability - - something we started to flesh out in the dao model law commentary
- Joni: “stakeholder equal-ism” - real time valuation of our public goods