The Swiss Parliament recently approved new regulations for Blockchain and Distributed Ledger Technology (DLT Framework) expected to enter into force 2021. The new regulation allows for new license categories for DEX.
Investigate regulatory options in Switzerland (DLT Framework) to get legal clarification on potential options (e.g. comparable to AAVE receiving an Electronic Money Institution license from the FCA, or SwissBorg which is regulated by VQF, a Swiss Self-Regulatory Organization (SRO)). See also the MakerDAO discussion here: https://forum.makerdao.com/t/discussion-legal-structures-of-makerdao/4390
Curve is governed by a DAO and not a legal entity. The question is how can a DAO going forward interact with the regulator and be compliant in a certain legal area (Switzerland)? E.g. by creating a “legal wrapper” under Swiss law.
The community fund shall be used to cover legal cost.
- Get legal clarification
- Don’t get legal clarification
Motivation: Get legal clarification on potential options