Proposal “dash-core-group-legal-september-2020“ (Completed)Back

Title:Dash Core Group Legal (September 2020)
Owner:glennaustin
One-time payment: 132 DASH (9060 USD)
Completed payments: 1 totaling in 132 DASH (0 month remaining)
Payment start/end: 2020-08-14 / 2020-09-12 (added on 2020-08-07)
Votes: 811 Yes / 50 No / 0 Abstain
External information: app.dashnexus.org/proposals/dash-core-group-legal-september-2020/overview

Proposal description

Dash Core Group September 1st Funding Proposals
DCG is submitting 3 funding proposals for the September 1st budget cycle:
1) DCG Compensation part one: 2,663 Dash per month (currently in month 2/3)
2) DCG Compensation part two: 400 Dash per month (currently in month 3/3)
3) DCG Legal: 132 Dash or $13,000 (1 month proposal)

This Proposal
This is a cross-posted here

This proposal extends the previously funded legal proposal that ran from July to August in the amount of 132 Dash each month.

With this proposal Dash Core Group is requesting additional funds for its legal expenses category. DCG has been pursuing a number of legal initiatives utilizing existing legal budget funding for the benefit of the Dash network.  Current projects include:

1) Funding Dash Core Group’s regular course of business legal expenses for integration contracts, vendor agreements, non-disclosure agreements, and other general company legal needs.
2) Occasionally Dash Core Group receives unplanned requests from regulators or exchanges.  Responding to these requests ensures that exchanges can continue to list Dash. Dash Core Group specifically engaged with one U.S. regulatory body proactively in the second quarter of 2020 to educate and explain how exchanges can support Dash while remaining compliant with U.S. money services regulations. Staff from across different divisions of the regulator attended the presentation. We believe that this proactive engagement will reduce the number of unplanned one-off requests going forward.
3) With the FATF Travel Rule being applied worldwide this year, Dash Core Group has been working with exchanges to engage and educate regulators and other parties on why Dash compliance requirements exactly match those of other major cryptocurrencies. We recently engaged with an exchange based out of Singapore which is planning on working with the regulatory authorities to ensure Dash is understood by the MAS ("Monetary Authority of Singapore") and can continue to be listed on exchanges in the country.
4) Fees related to an outside accounting firm to assist the finance department with book-keeping, cryptocurrency accounting entries, and to serve as an independent party to ensure compliance with regulations and policies at the state and federal levels.
5) Fees related to a tax accountant to assist in optimizing and filing required federal and state taxes.

We used the budget received over the last two months to engage with regulators (discussed above), renew federal (Delaware) and state (AZ) corporate registrations, finalized our trademark status (https://blog.dash.org/the-dash-network-now-owns-the-dash-trademark-34cda78e656e), as well as created integrations contracts and non-disclosure agreements with actual and potential business development partners.

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 price-tag against any of the initiatives we are undertaking. We tend to request a conservative figure and may request a supplement if it becomes necessary. We also apply any unused budget toward other legal expenses or taxes.

If you have any questions, please direct them to @RyanTaylor in this post to ensure we are notified of your request.

Requested funding is as follows for the September 1st budget cycle:
· 127 Dash for legal expenses ($13,000 USD @ $101 per Dash)
·     5 Dash proposal reimbursement
Total: 132 Dash

Note: Any unused budget will be applied toward other legal expenses and taxes.



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