Proposal “DCG-Legal-EndFeb-EndApril“ (Completed)Back
| Title: | Dash Core Group Legal (Cycle Ending February 27th) |
| Owner: | glennaustin |
| One-time payment: | 266 DASH (7944 USD) |
| Completed payments: | 1 totaling in 266 DASH (0 month remaining) |
| Payment start/end: | 2021-02-12 / 2021-03-13 (added on 2021-02-07) |
| Votes: | 845 Yes / 50 No / 4 Abstain |
Proposal description
Dash Core Group February 27th Funding Proposals
DCG is submitting 3 funding proposals for the budget cycle that pays out February 27th:
1) DCG Compensation part one: 2,663 Dash per month (currently in month 2/4)
2) DCG Marketing: 266 Dash per month (currently in month 1/3)
3) DCG Legal: 266 Dash per month (currently in month 1/1)
This Proposal
This proposal requests funding for legal expenses and is cross-posted here.
Dash Core Group is continuing to submit legal proposals to fund hiring outside counsel to work on correcting regulatory perceptions regarding Dash as well as to pay for ongoing company legal expenses. There have been two specific instances where Dash was named as an anonymity-enhanced cryptocurrency (“AEC”) by the U.S. government:
Dash Core Group strongly objects to Dash being characterized as an AEC for legal purposes. The Dash network has only one privacy technique active on its network: non-custodial CoinJoin. Non-custodial CoinJoin exists on most other public blockchain platforms including more advanced forms on Bitcoin, Bitcoin Cash and Litecoin, among others. Dash Core Group has submitted its comments to the FinCEN NPRM with the assistance of legal counsel: https://media.dash.org/wp-content/uploads/FinCEN-Unhosted-Wallets-NPR-Response_Dash-Core-Group_Jan-2021.FINAL_.pdf
Dash Core Group has additionally hired outside counsel to assist with engaging with regulators. Legal counsel, in consultation with Dash Core Group, is currently evaluating all available options to remedy the mischaracterization of Dash as an AEC.
As mentioned in previous legal budget proposals, determining the exact costs for legal projects at the outset is impossible, and determining a likely range for many items is highly variable due to factors outside our control (e.g., whether there are follow-up requests from regulators). This means we can’t assign a specific cost to initiatives we undertake. In the past we have tended to request incremental figures, and supplement the budget as needed as cases develop, and we plan to continue to do that in the future. This avoids the need to request “worst case” funding estimates, which may exceed the final costs of a given engagement. This proposal is for 1 cycle and next budget cycle we may submit an additional legal proposal or pivot to funding business development depending on our circumstances.
If you have any questions, please direct them to @babygiraffe in this post to ensure we are notified of your request.
Requested funding is as follows for the budget cycle paying out end of February:
· 261 Dash for legal expenses ($30,400 USD @ $115 per Dash)
· 5 Dash proposal reimbursement
Total: 266 Dash
Note: Any unused budget will be applied toward other legal expenses and any resulting taxes.
DCG is submitting 3 funding proposals for the budget cycle that pays out February 27th:
1) DCG Compensation part one: 2,663 Dash per month (currently in month 2/4)
2) DCG Marketing: 266 Dash per month (currently in month 1/3)
3) DCG Legal: 266 Dash per month (currently in month 1/1)
This Proposal
This proposal requests funding for legal expenses and is cross-posted here.
Dash Core Group is continuing to submit legal proposals to fund hiring outside counsel to work on correcting regulatory perceptions regarding Dash as well as to pay for ongoing company legal expenses. There have been two specific instances where Dash was named as an anonymity-enhanced cryptocurrency (“AEC”) by the U.S. government:
- Department of Justice Cryptocurrency Enforcement Framework: https://www.justice.gov/archives/ag/page/file/1326061/download
- FinCEN NPRM regarding “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets https://public-inspection.federalregister.gov/2020-28437.pdf
Dash Core Group strongly objects to Dash being characterized as an AEC for legal purposes. The Dash network has only one privacy technique active on its network: non-custodial CoinJoin. Non-custodial CoinJoin exists on most other public blockchain platforms including more advanced forms on Bitcoin, Bitcoin Cash and Litecoin, among others. Dash Core Group has submitted its comments to the FinCEN NPRM with the assistance of legal counsel: https://media.dash.org/wp-content/uploads/FinCEN-Unhosted-Wallets-NPR-Response_Dash-Core-Group_Jan-2021.FINAL_.pdf
Dash Core Group has additionally hired outside counsel to assist with engaging with regulators. Legal counsel, in consultation with Dash Core Group, is currently evaluating all available options to remedy the mischaracterization of Dash as an AEC.
As mentioned in previous legal budget proposals, determining the exact costs for legal projects at the outset is impossible, and determining a likely range for many items is highly variable due to factors outside our control (e.g., whether there are follow-up requests from regulators). This means we can’t assign a specific cost to initiatives we undertake. In the past we have tended to request incremental figures, and supplement the budget as needed as cases develop, and we plan to continue to do that in the future. This avoids the need to request “worst case” funding estimates, which may exceed the final costs of a given engagement. This proposal is for 1 cycle and next budget cycle we may submit an additional legal proposal or pivot to funding business development depending on our circumstances.
If you have any questions, please direct them to @babygiraffe in this post to ensure we are notified of your request.
Requested funding is as follows for the budget cycle paying out end of February:
· 261 Dash for legal expenses ($30,400 USD @ $115 per Dash)
· 5 Dash proposal reimbursement
Total: 266 Dash
Note: Any unused budget will be applied toward other legal expenses and any resulting taxes.
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https://www.dash.org/forum/threads/09-decentralized-decision-making-proactively-building-dash-decentralization.51334/
1) Legal costs to draft investment agreements between it and the companies in which it invests
2) Legal costs related to its own existence (e.g., Cayman Island filing fees)