Proposal “legal-201610“ (Closed)Back
| Title: | Legal Part 2 (Oct) |
| Owner: | babygiraffe |
| One-time payment: | 1733 DASH (54428 USD) |
| Completed payments: | 1 totaling in 1733 DASH (0 month remaining) |
| Payment start/end: | 2016-10-05 / 2016-11-19 (added on 2016-09-24) |
| Final voting deadline: | in passed |
| Votes: | 1275 Yes / 444 No / 0 Abstain |
Proposal description
This is a cross-post from the Dash Forum
This proposal is simply to complete the second half of the required funding for the working being conducted by the PIllsbury law firm. If you are not familiar, the original proposal with additional details can be found here: https://www.dash.org/forum/threads/proposal-legal-sept.10457/
After the initial approval, we have signed an engagement letter with Pillsbury and the initial retainer has been funded. The legal work should begin within the next week or two. The total cost estimate ranges from $35,000 to $45,000, and the first $20,000 has been committed thus far. We will therefore need approximately another $20,000 to complete the project, which this proposal will fund.
The first set of questions we are in the midst of addressing consists of the following on masternode investing and liabilities, and exchange liabilities for regulated fiat exchanges:
1) Legal opinion on the treatment of masternode block rewards under the Internal Revenue Code
a. Whether they are treated similarly to mining rewards, interest, or other tax treatment
b. Tax treatment of the initial collateral “investment”
2) Liability of masternode owners for the transactions they facilitate
a. Whether masternode owners may be responsible for criminal activities connected with transactions they facilitate
b. If so, under what circumstances
c. Whether participation in “mixing” services might give rise to criminal liability
d. If so, under what circumstances
3) Liability of exchanges that support Dash transactions and guidelines on meeting existing compliance
a. Whether an exchange might be held liable for criminal activity
associated with PrivateSend transactions and under what circumstances
Requested funding is as follows for the October 5th budget cycle:
Note: Any unused budget will be applied toward other legal expenses
This proposal is simply to complete the second half of the required funding for the working being conducted by the PIllsbury law firm. If you are not familiar, the original proposal with additional details can be found here: https://www.dash.org/forum/threads/proposal-legal-sept.10457/
After the initial approval, we have signed an engagement letter with Pillsbury and the initial retainer has been funded. The legal work should begin within the next week or two. The total cost estimate ranges from $35,000 to $45,000, and the first $20,000 has been committed thus far. We will therefore need approximately another $20,000 to complete the project, which this proposal will fund.
The first set of questions we are in the midst of addressing consists of the following on masternode investing and liabilities, and exchange liabilities for regulated fiat exchanges:
1) Legal opinion on the treatment of masternode block rewards under the Internal Revenue Code
a. Whether they are treated similarly to mining rewards, interest, or other tax treatment
b. Tax treatment of the initial collateral “investment”
2) Liability of masternode owners for the transactions they facilitate
a. Whether masternode owners may be responsible for criminal activities connected with transactions they facilitate
b. If so, under what circumstances
c. Whether participation in “mixing” services might give rise to criminal liability
d. If so, under what circumstances
3) Liability of exchanges that support Dash transactions and guidelines on meeting existing compliance
a. Whether an exchange might be held liable for criminal activity
associated with PrivateSend transactions and under what circumstances
Requested funding is as follows for the October 5th budget cycle:
- 1728.46 Dash ($20,000 USD @ $11.571 per Dash based on September 23rd average rate at https://bitinfocharts.com/comparison/price-dash.html)
- 5.00 Dash reimbursement for the proposal cost
Note: Any unused budget will be applied toward other legal expenses
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Discussion: Should we fund this proposal?
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Is this a fixed fee arrangement or will it be supported by their timesheets with an hourly rate with perhaps a fee cap?
Have other firms been approached with the same scope and requested for a quote? Which firms?
Is the full scope based on the above questions?
https://www.dash.org/forum/threads/proposal-legal-part-ii-oct.10786/#post-105430
But, many of the questions are very US-centric. Questions should be expanded to include the ramifications for doing the same thing in other parts of the world.
The US is Claiming "exceptionalism" and world jurisdiction, which means there is a need to look at options where the US is as far out of the loop as possible. Maybe a Cryptocurrency refugee program, but the question if DASH Holdings qualify for asylum needs to be analysed.