►
From YouTube: W1 Legal WG: Define the legal areas we wanna take, protection to Hatchers, EU new regulations
Description
In our recent call, we discussed the issues we need to address as we move forward:
• Define the legal area
• Warnings on investment
• Legal protection for Hatchers (impact hours and investors)
• EU new regulations
Check out our notes here: https://docs.google.com/document/d/1SqBWgu1WnwbKWBC5nubhCjDwf-TjRnunhev0kWUepAU/edit#heading=h.4qr126s3qfr1
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A
B
C
A
Document
it's
on
the
in
the
legal.
A
A
You
so
what
basically
we're
gonna
do
today,
we're
gonna
we're
gonna,
define
the
different
legal
areas.
We
should
a
little
study
a
little
bit
and
decide
which
part
we
want
to
take.
We
were
discussing
that
with
grief
the
other
day
and
and
from
there
the
act.
A
I
would
love
if
the
experts
can
take
a
look
at
every
single
area
that
we
identify,
as
as
at
least
an
area
to
to
take
care
or
to
to
make
sure
that
we
we
know
what
the
legal
aspects
are
and
and
from
there
decide
which
path
we
wanna
we
wanna.
A
C
B
A
A
A
A
There's
two
basic
phases
on
the
project:
one
is
the
hatching
phase
and
the
other
one
is
the
pos
hatching
of
the
bunning
core.
So
during
the
hatching
phase
there
is,
there
is
several
areas
that
we've
identified
as
potential
areas
of
conflict.
A
One
is,
I
I
hear
a
echo:
is
there
anyone
there
with
a
mike
okay?
Thank
you
so
the
hunting
phase
we
we
have
to.
First
of
all,
it's
a
hatching
phase
where
only
people
with
cstc
tokens
will
be
invited.
A
A
On
top
of
that,
we
would
love
to
have
a
document
to
warn
every
single
one
going
into
the
hatching
phase.
Just
like
you
know
a
warning
if
you
are
jumping
into
into
the
investment,
it's
your
own
risk,
and-
and
these
are
the
risks
that
you
may
you
may
face-
okay,
because
just
we
gotta
be
aware
everyone
having
impact
hours.
A
A
Should
have
cleared
that
and
we
should,
in
the
document
in
this
initial
document
state,
what
do
you
get
and
what
can
you
purchase
during
this
hatching
phase
all
right
and
on
top
of
that,
make
sure
that
every
single
participant
has
signed
to
be
a
member
of
the
common
stack
association
and
be
at
least
covered
in
that
sense?
A
All
right!
That's
that's
during
the
hatching
phase,
and
those
are
the
documents
that
the
that
the
people
on
the
group
that
has
a
legal
background
should
should
be
great
if
they
could
identify,
we
could
work
with
them
to
define
exactly
the
faces
and
and
see
what
what
we
should
include
in
those
in
those
warnings
or
documents
for
the
users.
A
The
second
phase
is
the
bonding
curve.
Okay,
where
everyone
can
participate
in
that
in
that
second
stage
of
the
project,
we
should
warn
the
users
that
this
is
a
risk
game
and
the
price
is
settled
by
the
bonding
curve,
but
we
may
be
hacked
okay.
We
maybe
we
may
have
our
site
hacked
and
you
may
end
up
losing
all
your
money
just
because
you're
you
know
we're.
E
Been
playing
with
with.
A
The
with
the
tools,
so
everyone
should
be
absolutely
aware
that
this
is
a
risk
project
and,
if
you've
invested,
of
course,
you
will
get
because
you're
coming
from
the
initial
phase,
you'll
get
a
a
low
price,
but
at
the
end
of
the
day,
there's
risks
associated
associated
with,
with
the
everything
that
we're
setting
up.
Okay,
hello
grief.
A
Okay,
so
that's
those
are
the
two
phases
that
that
we
are
we've
identified.
We
may
end
up,
you
know
bringing
some
other
one.
There's
a
there's,
actually
there's
another
one
which
is
once
everything
is
up
and
running
the
proposals.
Okay,
everyone
could
will
be
able
to
submit
a
proposal,
and
what
does
that
in
terms
of
legal,
in
what
implications
it
has?
A
Okay,
because
we're
gonna
be
giving
away
fund
funds
for
the
proposals
and
there
would
there
may
be
other
proposals
we
who
may
return
funds
to
the
to
the
funding
and
the
comments,
the
token
engineering
commons
funding
pool.
So
those
are
basically
the
legal
areas
that
we've
identified,
so
so
what
what
we've
done?
A
We've
created
we're
working
with
github
projects
and
we've
identified
these
different
areas
that
where
we
need
at
least
to
analyze
with
a
legal
eyes
with
someone
who's
who
has
a
legal
background
and
and
and
from
there
decide
how
do
we
want
to
move
forward?
Okay,.
A
So,
let's,
if
I
I
don't
know
if
let
me
see
if
I
can
share
my
screen
with
you
guys,
because
I
was
having
problems,
the
other.
A
B
A
That's
that's.
What
happened
the
other
day
grief?
Can
you
share
the
the
or
olivia?
Can
you
share
the
the
github,
the
legal
github
screen
for
me.
F
A
A
You
know
linked
to
the
contribution
that
everyone
has
done
during
the
launching
phase
and
those
that
you
might
be
able
to
purchase,
depending
on
the
amount
of
impact
hours
that
you
will
have.
So
some
will
come
from
the
effort,
not
monetary
effort,
and
some,
if
you
want
to
will
come
from
from
monetary
exchange,
depending
on
the
amount
of
impact
hours
that
you
will
have.
A
Okay,
so
this
is
the
this
is
the
project
that
we
we've
been
creating
and
we've
started
to
create
in
in
github.
So
basically,
there
are
several
things
we've
identified,
and
one
of
them
is
okay.
The
first
one
is
grief
is
working
as
a
as
I
told
you
is
working
with
the
little
team
at
at
the
common
stack
to
see
how
we
could
include
everyone
participating
in
the
hatching
phase
and
having
cstc
tokens
to
be
under
the
the
heart
of
of
the
association,
the
common
stock
association.
A
F
It's
good.
We,
we
have
the
terms
and
conditions
and
the
benefit
of
the
c-stack
token
and
the
common
stack
association
is
that
is
literally
built
to
be
a
legal
shield
for
the
people
building
and
participating
in
hatches
in
initializing
these
economies.
So
the
the
challenge
is
that
we
can't
directly
protect
someone
from
participating
in
a
hatch,
but
what
we
can
do
basically
is
have
this
legal
org,
whose
mission
is
to
in
a
way
be
like
a
community
for
those
people
and
if
they
do
run
into
legal
problems.
F
Unfortunately,
it's
still
their
legal
problem,
not
the
common
stacks.
We
tried
really
hard
to
figure
out
a
way
to
do
that,
but
it
just
wasn't
possible,
but
we
can
give
people
legal.
F
Okay
thing
as
a
member
of
the
commons
tech
association,
and
so
I
can
I'll
collect
the
links
and
share
if
you
guys
want
to
read
up
on
it.
But
I
I
do
think
that
it's
a
really
easy
direction
to
go
for
making
sure
that
everyone
with
impact
hours
and
everyone
who's
part
of
the
hatch
is
a
member
of
this
swiss
org
and
that
will
give
them
at
least
as
much
protection
as
we
can
get.
F
For
on
our
side,
I
I
believe,
we've
already
tackled
all
the
issues
and
come
to
compromising
with
our
swiss
lawyers.
So
we
made
a
lot
of
compromises
and
they're
just
reviewing
the
last
terms
and
conditions.
A
Okay,
all
right
great
okay,
so
that's
in
progress,
there's
another
one
that
that
we've
created-
and
I
would
love
especially
someone
who
can
jump
into
this
one
to
help
which
is
basically
identify
every
single
use
case
that
every
one
of
you
may
may
identify
and
and
try
to
solve
it.
Okay.
So
things
like
what
happens
if
I
purchase
this
token
it
after
I
forget
about
it,
and
after
eight
months
I
come
in
and
I
figure
out
that
the
price
has
down
is
down
to
zero.
A
What
happened?
You
know,
try
to
identify
every
use
case
of
users
that
may
may
face
users
may
face,
and-
and
they
they
may
want
to,
they
may
want
to
know
a
response
from
us
from
from
the
group
okay
and
see
how
we
can
at
least
have
a
roadmap
map
defined
for
for
those
use
cases
that
we
have
identified
so
far.
There
is
only
this
one,
but
it
would
be
good
if
every
one
of
us
does
a
little
effort
and
adds
additional
use
cases
that
we
think
that
may
happen
in
the
future.
A
Keep
in
mind
that
that
not
only
the
initial
group
of
users
may
be
a
use
case,
it
can
be
anyone
else
once
the
bonding
curve
is
up
and
running,
anyone
will
be
able
to
come
and
buy
tokens.
People
experience
users
and
experienced
users.
People
dealing
with
problems
with
metamask
because
they
don't
put
enough
gas
and
in
the
and
the
trend
transaction
doesn't
doesn't
move
forward.
A
All
these
kind
of
of
cases,
at
least
as
many
as
possible
should
be
identified,
and
we
should
have
an
answer
to
any.
A
Okay,
on
top,
so
anyone
is
invited
to
to
jump
here
with
it
was.
It
was
open
this
this
card
was
opened
by
grief,
but
everyone
is
is,
and
maybe
in
the
following
weeks,
we
should
spend
some
time
trying
to
identify
some
of
those
potential
issues
from
from
users.
Yeah.
F
Over
time
and
this
this,
this
is
a
pretty
critical
issue
to
be
done
asap.
So
if
anyone
wants
to
take
it
on
it's
a
pretty
fun
issue,
it's
like
dream
up
all
the
problems
that
scenarios
where
someone
might
want
to
sue
somebody
in
relation
to
their
interactions
with
this
with
this
smart
contract
right,
so
you
can
imagine
all
sorts
of
scenarios
where
it's
like,
oh,
I
had
damages
and
this
person
caused
them.
I
hope
that
we
actually
just
assign
one
person
to
it.
F
Obviously,
if
anyone
wants
to
contribute,
they
can,
but
it's
a
pretty
fun
one
and
I'm
sure
someone
might
want
to
take
it
on
and
earn
impact
hours
for,
dreaming
up
problems
and
then
the
the
end
goal.
The
end
goal
of
this
is
each
for
each
problem
that
we
dream
up.
We
make
another
issue
in
github
and
we
make
sure
that
that
problem
is
addressed,
or
at
least
we're
aware
of
you
know.
If
it's
still
going
to
be
a
problem
after
we
propose
a
legal
situation,
you
know.
That's
that's!
F
A
Right
and
and
we
can
think
of
of
of
any
any
situation,
maybe
due
to
our
smart
contracts
or
not
like
yesterday,
I
was
I
was
moving,
making
a
transaction
and
I
got
stuck
on
metamask
and
grief,
helped
me
out,
but
if
I'm
an
experienced
user
and
I've
committed
an
error
and
added
a
transaction
with
a
bunch
of
money,
I
may
end
up.
A
You
know
thinking
that
it's
the
association
fault
or
the
group
fault,
and
I
may
end
up
wanting
to
sue
or
so
or
at
least
try
to
solve
the
conflict
in
a
way
feral
to
me,
which
is
and
considering
that
it's
not
our
fault,
it's
it's
metamask
or
whatever
the
blockchain
problem.
Okay,.
F
D
Yeah,
I
think
this
is
brilliant,
actually
because
this
is
what
what
happens
in
a
lawyer's
mind,
or
at
least
in
a
judge's
mind
when
things
like
this
happen,
so
you
need
to
define
the
like
the
things
that
are
happening
in
the
real
life
and
then
you
know
see
how
this
is
connected
to
the
regulation
that
might
apply
to
this
person
or
to
this
organization.
I
think
this
this
workflow
is
brilliant,
and
with
I
mean
it's
not
it
could
it
doesn't
really.
D
A
A
D
Yeah,
I
mean
it's
not
only
that
it's
that
it
really
depends
where
this
person
is
from
and
also
depends
on.
You
know
how
they
are
paying
their
taxes,
what
their
country
where
their
like
in?
How
are
they?
Actually?
What
are
their
rules
on
tokens
and,
of
course,
like
securities
and
utilities
and
stuff
like
that?
So
it
really.
D
D
A
To
jump
yeah,
so
I
encourage
everyone
to
just
go
ahead:
julio
go
ahead!
No.
C
I
saw
that
here
you
you're
considering
mistakes
by
user
or
you
know
routine
problems
and
what
about?
Instead?
Malicious
attacks
and
people
that
want
to
exploit
the
system.
Because
I
I
was
thinking
about
a
one-hive.
C
F
F
I
think
I
think
that's
an
example
of
of
a
great
legal
use
case
where,
like
oh
someone
from
the
organization,
promises
something
that
actually
requires
a
vote,
and
you
know
I
think
that's
that's
a
scenario
that
should
be
written
down.
I
mean
the
whole
point
of
this
issue
is
to
write
down
10
plus
of
those
types
of
scenarios
and
then
once
we
have
them
written
down,
then
we
try
to
address.
A
Them
so
maybe
I
would
love
if
any
of
you
guys
decide
to
jump
into
this
this
issue
on
the
project.
I
will
leave
the
link
for
the
project
in
github
or
you
can
send
me
your
comments
or
write
them
down
on
the
legal
on
the
legal
document,
but
but
we
maybe
next
week
we
may
spend
some
time
dealing
with
trying
to
figure
out
those
those
case
cases
that
may
arise
from
everyone's
everyone's
point
of
view.
A
F
F
So
that
sorry,
the
c-stack
token
launched
in
the
common
stack
associations
like
actual
legal
initialization,
because
while
it
it
exists,
it's
kind
of
in
a
hibernation
stage,
and
it's
not.
We
we're
for
everyone
to
be
a
c-stack
token
holder.
We're
actually
going
to
need
everyone
to
donate
one
die,
and
there
is
a
few
blockers
in
in
that
process
that
need
to
be
plowed
through
so
yeah.
I'm
just
tackling
that
one
and
then-
and
it's
really
a
common
stack
issue.
F
But
I
want
to
make
sure
that
it's
on
our
on
our
awareness
in
this
board,
because
if
we
might
need
help,
so
you
know
the
common
stack
has
been
focusing
all
our
efforts
in
the
tec
and
and
now,
like
you
know,
it's
hard
to
put
effort
into
some
of
the
core
common
stack
stuff.
Sometimes,
so
I'm
just
going
to
make
sure
that
the
issues
that
are
blocking
us
are
at
least
because
they're
also
blocking
the
tec,
are
scoped
out
and
and
understood
in
our
legal
roadmap.
F
Okay,
cool
feel
free
to
interrupt
me
and
just
unmute.
If
you
have
a
question
yet
and
then
the
other
issue
that
I'm
going
to
take
on
and
is
the
investigate,
a
j
which
is
a
this,
was
a
project
that
I'm
pretty
intimately
familiar
with,
because
I'm
on
the
aragon,
multisig
and
and
have
been
very
deeply
connected
to
argon
team
and
have
friends
like
I'm
good
friends
with
their
main
legal
advisor.
F
So
I
want
to
ask
maria
how
they
dealt
with
the
fact
that
they
created
a
bonding
curve
and
you
know
had
users
come
in
in
like
any
like
points
or
just
kind
of
investigate,
because
right
now
we're
in
the
research
phase
for
at
least
a
week
where
we're
just
kind
of
like
under
gathering
data
around
you
know
what
are
the
problems
we
need
to
solve
and
how
did
other
people
solve
those
problems
so
that
that's
really
the
mission
for
the
week
and
the
the
goal
with
a
and
j
is
they
did
something
so
similar?
F
We
need
to
investigate
it,
and
so
I'm
going
to
take
that
one
on.
But
I
hope
that
there
we
we
brainstormed
a
bunch
of
other
projects
that
also
have
similar
setups
to
to
us
they're,
not
issues
yet,
but
maybe
they
could
be
made
issues
by
anyone
who
wants
to
do
some
research
on
them.
It's
in
the
manifesto.
A
If
anyone
writes
sorry
sorry
grief,
if
anyone
wants
to
go
over
the
manifesto
and
check
and
check
the
the
investigate
point
number
two:
we
can
try
to
give
you
links
to
any
of
those
organizations
that
we
think
may
be
worth
taking
a
look
and
see
how
they
are.
You
know
facing
their
legal
issues.
F
A
F
B
D
Great
okay,
investigate
some
others,
but
were
you
thinking
of
talking
to
the
people
directly
or
just
like
analyzing
their
documents
like
dx
dial?
I
think
we
were
having
a
lot
of
discussions
about
that
with
silke
and
koala
and
that
we
know
a
little
bit
about
the
process
of
how
they
did
it.
F
A
If
we
have
a
chance
to
talk
to
them
directly,
that
that'd
be
great,
if
not
at
least
analyzing
the
documents
and
and
all
the
information
that
we
can
find
from
from
their
organizations
and
and
see
how
they
are
addressing,
or
at
least
they
are
right
that
the
way
they
are
addressing
it,
it's
it's
good
input.
Also.
F
I
can
say
I'm
very
privileged
in
this
space.
I
I
can
get
people's
time.
So
if
we
should
take
advantage
of
my
privileged-
and
I
can
you
know,
if
someone
carries
the
flag
and
says
hey,
I'm
going
to
investigate
dx
dao-
and
I
would
just
I
would
say,
yeah
okay.
Well,
let
me
get
you
in
touch
with
skye
who's
like
their
main
community
guy,
and
I
that
I
talk
to
all
the
time
you
know,
and
he
would
love
to
have
a
chat
about
dx
dao
and
the
legal
strategy
that
they
do
didn't.
F
Yeah,
probably
I
mean
this
is
the
thing
I
have
the
connection
right
with
one
someone
in
these
orgs
and
then
they
can
be
like
yeah.
You
should
talk
to
this
person
and
then
we
make
it
happen,
but
the
goal
would
be
not
to
waste
their
time,
of
course,
and
to
make
sure
not
to
to
go
in
while
researched
with
real
questions,
maybe
even
send
them
questions
in
advance
so
that
they
know
it's
serious
and
they're
going
to
put
their
game
face
on.
D
A
Okay,
now
there
was
the
the
last
one
was
the
legal
onboarding
document.
The
idea
here
is
to
create
a
document
that
basically
explains
all
the
legal
aspects
that
we
are
dealing
with
and
that
we
are
studying
so
everyone.
Anyone
who
jumps
into
the
organization
and
wants
to
has
access
to
that
document
and
then
can
and
can
read
about
it.
A
There
is
one
last
point
that
that
just
came
to
they
just
thought
of
today,
which
is
the
legal
new
legal
regulations
on
eu
that
was
that
were
released
a
couple
weeks
or
three
weeks
ago.
It'd
be
great
if
we
could
take.
If
some
someone
could
take
a
look
at
those
and
and
figure
out,
if
there's
relevant
changes
there
that
may
affect
us
or
or
not.
D
Great,
so
the
process
is
like
you
said
a
month
ago
there
was
this
regulation
from
the
european
commission
issued.
It
is
a
regulation
which
means
that
when
it
is
adopted,
it's
going
to
be
adopted
in
the
same
way
in
every
european
country.
So
it's
not
a
directive,
so
this
is
quite
good
and
at
the
same
time
it
is
a
proposition.
So
it
needs
to
go
through
the
parliament
and
then
all
the
european
member
states
needs
to
make
their
make
up
their
mind
and
say
if
they
what
they
think
about
it.
D
I
just
got
the
document
of
with
400
pages
with
feedback
from
every
country
in
europe,
but
the
most
important
ones
in
this
moment
are
germany,
france,
slovenia,
portugal,
because
we,
the
germany,
slovenia
and
portugal
are
the
presidency.
They
are
leading
the
presidency
in
the
next
one
year
and
a
half
within
which
this
regulation
is
going
to
be
adopted.
That
means
that
the
timeline
for
this
regulation
to
be
adopted
is
actually
at
the
end
of
this
year.
It's
pushed
a
lot
from
germany.
D
D
That
means
that
it
is
in
some
parts
like
you
were
saying,
there
are
three
or
five
six
different
categories
of
crypto
assets
as
they
call
tokens
the
utility
tokens
are,
are
regulated
in
a
way
that,
if
you
issue
them,
you
need
to
write
a
white
paper
issuing
doesn't
mean
public,
offering
it
just
means
issuing.
There
are
some
exemptions,
some
exemptions
that
might
be
interesting
for
us
are
mining.
So,
if
you
mine
a
token,
you
don't
need
to
have
a
white
paper.
D
If
you
air
dropper
token,
you
don't
need
to
have
white
paper,
but
there
is
air
dropping
for
free,
which
means
that
not
even
sending
your
personal
information,
if
you
send
a
personal
information
and
your
eye
dropping
a
token
it
doesn't
need,
doesn't
mean
that
this
is
an
ex.
D
You
still
need
to
write
a
white
paper
and
talk
to
the
authority
from
the
from
the
country
where
you're
from
then
nfts
are
accepted,
which
is
really
weird,
and
I
think
that
the
regular
regulators
don't
really
understand
what
nfps
are
and
if
these
are
not
even
anywhere
defined.
D
So
we
don't
know
how
they
understand
nfts,
and
it
is
an
exemption
of
one
million
euro
euros,
which
means
that,
if
you're
issuing
a
token
in
any
and
the
value
of
all
those
tokens
are
less
than
one
million,
you
can
do
that
without
white
paper
or
if
there
are
more
than
less
than
150
holders
in
every
european
union
country.
So
this
is
also
so
weird
in.
D
Yeah
every
country,
so
you
need
to
have
a
maximum
of
150.,
so
they're
like
they're
kind
of
weird,
but
there
are
some
exemptions,
but
the
most
important
thing
that
is
regulated
in
this.
This
proposal
is
actually
the
issuance
of
tokens
and
the.
If
you
want
to
list
them
the
listing
of
tokens
on
the
exchanges
so
to
make
it
really
short,
the
idea
of
this
was
to
regulate
libra.
D
They
want
to
be
to
to
this
to
be
active,
like
adopted
as
soon
as
possible,
just
because
of
that
it
at
the
end
of
the
day,
as
far
as
we
understand,
I've
been
talking
to
simone
poro,
from
adan
from
the
french
organization
and
with
florian
from
determine
one.
D
We
also
did
some
workshops
to
european
parliament,
and
so
the
our
understanding
at
the
end
of
the
day,
is
that
they
want
to
ban,
or
they
are
banning
d5,
because
they
are
banning
all
the
inch
in
I
mean
the
ways
how
defy
is
is
actually
working
and
they
are
banning
those
in
a
way
that
you
need
to
be
incorporated.
D
If
you
want
to
issue
a
token
to
the
european
union
members,
you
need
to
be
incorporated
in
the
european
union,
so
I
think
when
it
comes
to
common
stack,
the
most
important
part
is
how
to
issue
token,
and
what
does
it
mean?
What
does
it
mean
to
issue?
What
do
we
need
to
comply
with
if
you
want
to
issue
tokens
to
european
member
citizens,.
A
Okay,
okay,
so,
and-
and
the
only
difference
is
that,
if
you
don't
distribute
more
than
150
people
from
each
country
and
no
more
than
one
million
in
value,
you
don't
have
to
notify
the
authorities.
Is
that
correct,
yeah,
okay,.
A
Much
have
to
take
a
look
at
that
and
and
and
decide
how.
How
do
we
want
to
proceed
with
the
with
the
dock?
Do
they
really
understand
by
defy,
because
you
mentioned
that
that
they
don't
want
the
changes
to
to
to
operate,
or
they
don't
want
to
facilitate
that
the
work
that
changes
are
doing,
but
by
defy
do
they
identify
protocols
like
uni,
swap
or
or
like
the
one
we
will
be
having
which,
at
the
end
of
the
day,
it
will
be
like
unison,
happy
will
be
a
conference.
D
D
So
the
problem
is
that
the
the
regulatory
burden
is
really
high,
which
means
that,
if
you,
you
need
to
have
a
license,
you
need
to
have
certain
amount
of
of.
I
think
fiat
within
your
pocket.
D
Yeah,
so
it's
very
similar
to
what
what
happens
if
you
have
a
security
or
financial
instrument
in
in
europe,
but
it's
just
the
the
regulation
is
not
that
heavy
for
for
crypto
assets,
but
basically
it
is
still
so
heavy
for
some
of
the
startups
that
are
out
there
or
organizations
or
protocols,
as
we
call
them.
That
might
be
like
too
much
for
them.
D
D
The
two
very
interesting
definitions
there,
one
is:
what
means
a
member
state,
and
it
doesn't.
I
mean
you
are
in
in
active
active
in
this
member
state
when
you
offer
a
service
or
a
product
to
citizens
from
this
member
states.
So
it
doesn't
really
it's
not
that
important,
where
this
organization
is
from
there's
also
stated
it's
really
like
defined
in
very
detail
that,
if
an
organization
from
a
third
country,
so
it's
not
eu
country,
is
offering
services
like
that
to
european
citizens.
D
This
is
the
country
of
their
origin
and
they
would
need
to
be
incorporated
there
there's
another
definition
of
managerial
body,
which
I
think
is
also
very
important
for
common
step,
which
means
that
it
might
encompass
the
the
legal
and
in
physical
people,
persons.
That
means
that,
if
you're
not
incorporated,
you
could
still
be
liable
as
a
person
that
is
making
like
a
member
of
personal.
D
Yes
and
general
partnership
stuff,
but
we
still
need
to
look
into
that.
So
what
we
are
doing
right
now
is
that
we
are
we're
going
to
go
through
this
regulation
for
different
use
cases.
One
would
be
an
ex
stable
coin,
one
would
be
an
exchange
and
also,
of
course,
things
like
common
stock
are
doing
like
utility
tokens.
What
does
this
mean
for
this
project?
D
A
Yeah,
the
sad
thing
is
that
they
are
going
to
regulate
what
is,
in
my
personal
sense
and
reg
impossible
to
regulate.
I
mean
they
are
just
wow
thinking.
D
A
E
A
We
keep
meetings
going
on,
we
will
have
to
for
sure
at
least
keep
that
in
mind.
Whatever
decide.
I
know
we,
we
will
launch
either
way,
but
we
gotta
be
aware
of
what
are
we?
What
are
we
jumping
in
that
I
mean
the
the
idea
is
to
launch
but
no
know
the
enemy
and
understand
how.
D
A
D
No,
I
mean
before
they
can't
regulate
you
before,
but
I
think
it's
since
they're
regulating
listing
and
issuance.
I
think
it's
important
what
the
plan
of
the
organization
is
after
it
is
adopted.
So
if
you
want
to
issue
a
token
after
it
is
adopted
or
list
the
token
on
an
exchange,
you
would
need
to
be
compliant.
In
that
moment,.
D
I
mean
by
exchange,
they
would
understand,
centralized
exchanges
as
we
call
them,
because
decentralized
exchanges
wouldn't
exist
because
they
would
need
to
be
incorporated.
D
Yeah,
of
course,
but
it's
like
you
know,
then
what
anyone
can
do,
but
here's
the
problem
is
that
they
they
are
regulating
anyone
that
is
offering
anything
to
the
european
citizens.
So
I
think
that
in
the
future,
like
whatever
protocols,
organizations
they're
just
going
to
think
oh
is
this
market
important
enough
for
me.
Do
I
want
to
be
regulated
here?
If
not
I'll,
just
skip
this
market
and
just
go
somewhere
else.
D
A
Yeah,
it's
good
it's
great
if
the
world
is
centralized,
but
we
are
jumping
more
and
more
into
a
decentralized
world
which
means
that
this
law
is
lacking,
clear
click,
it's
not
clear
on
on
on
a
decent.
If
you
I
mean
the
way
the
world
is
moving,
but
anyway,
that's
how
we
have
to
deal
with
that's
what
we
have
and
we're
gonna
at
least
know
it
as
much
as
we
can
to
be
prepared.
A
D
Just
going
to
be
one
of
the
most,
you
know
one
of
the
biggest
projects
in
europe
that
some
authorities
will
go
after.
I
think
you
know,
I
know
and
also
way.
A
F
C
No,
I
wanted
to
ask
a
question,
since
the
beginning
and
marina
gave
me
the
the
start,
because
I
was
really
thinking
about
token
engineering
community
being
a
point
of
reference
for
this
kind
of
knowledge,
I
mean
legal
knowledge
and
across
the
different
national
regulations
and
how
it
impacts
our
work
and
the
work
of
other
dolls.
C
And
I
see
that
in
this
group,
the
legal
working
group,
of
course,
the
first
priority
is
to
deal
with
the
legal
aspect
of
the
organization
and
on
the
token
issuance
and
the
the
stuff
we
talked
about.
But
what
about
this
side
of
the
question
is
that
I
mean
I
am
in
my
dreams.
C
Talking
engineering
is
also
I
mean,
as
like,
an
internal
team
of
legal
experts
that
I
mean
do
produce
this
kind
of
knowledge
to
the
public
and
to
other
thousand
to
the
crypto
users,
because
they
are,
I
mean,
because
we
are
independent
and
not
related
to
a
single
project,
and
we
have
a
an
open
vision
and
values
about
what
token
engineering
should
be.
So
what
about
this?
Have
you
thought
about
it
because,
for
example,
it
could
be
that
I
mean
this.
C
This
work
is
vital
for
every
dao,
so
I
don't
see
it
so
crazy
to
make
every
doll
contribute
to
a
single
pool
of
experts
to
democratically
control
and
blah
blah
blah
to
make
this
kind
of
work.
F
C
Yeah,
because
that's
one
more
second,
I
agree
with
santik
that
they
are
reasoning
in
a
centralized
way
for
the
centralized
applications.
But
I
mean
regulation
will
come
because
power
will
we
want
it?
So
it's
not
a
matter
of
if
it
happens,
but
when
so,
I
think
the
early
earlier.
We
we
get
to
do
it
the
best
better.
It
is
for
everybody,
and
I
think
that
the
majority
of
the
house
community
is
not
in
the
mindset
of
this
happening
because
they
are
like.
D
So
I
I
think
it
really
depends
where
these
people
are
from,
when
the
most
I
mean
the
people
that
are
kind
of
representing
the
industry.
Again,
not
those
but,
like
you
know,
the
major
organizations
in
the
industry
are
kind
of
the
ones
that
are
talking
to
the
regulator
for
already
five
years
or
three
years,
and
I
think
that
the
regulator
knows
them
and
they
know
how
to
explain
things
like
defy
dao
and
stuff
like
that,
and
this
is
what
we
are
doing
right
now.
D
We
are
organizing
workshops
talking
to
lobbying
organizations
in
order
to
do
whatever
we
can,
but
I
from
what
I
hear
heard,
there's
not
a
lot
that
we
can
do
actually
at
this
moment
and
then
I'm
talking
to,
I
don't
know
vlad
and
others
that
are
not
from
the
european
union
and
are
of
course,
looking
from
you
know
this
centralized
way
or
or
blockchain
or
way,
and
they
just
say
whatever,
like
european
union,
is
such
a
small
market.
D
We
don't
care
what
happens,
we're
just
going
to
focus
on
other
markets,
and
this
is
kind
of
the
sad
reality
that
we
want
to
to
convey
to
the
regulators.
A
This
is
gonna
evolve
and
we
are
now.
I
think
we
are
now
in
the
in
the
fear
phase,
where
they
are
fearing
everything
that
it's
killing
their
business,
killing
their
regulations
and
killing
their
power,
and
this
will
flow
little
by
little,
but
right
now
it's
what
it
is
and
the
better.
We
know
it
and
the
better
we
are
prepared.
F
Yeah
I
just
I
just
want
to
say
that,
while
we
will
end
up
being
decentralized,
the
token
engineering
commons
and
at
least
any
commons
that
uses
the
common
stack
approach,
needs
to
start
out
with
a
trusted.
Seed
needs
to
start
out
with
a
barrier
of
entry
into
the
hatch,
because
we
can't
let
random
people
with
short-term
profit
that
are
short-term
profit
minded
like
join
the
the
initialization
of
the
common
system.
It
will
not
work,
they
will
dump
the
coin
and
we
will
lose
the
opportunity
to
create
value
for
the
public
good.
F
So
we
need
people
who
are
experts
in
the
public
good
or
at
least
care
about
the
value
being
created
in
the
mission
of
the
project
and
so
to
initialize
the
project.
So
I
think
that
there's
a
very
we
need
to
acknowledge
that
we
are
initializing
in
a
the.
The
whole
theory
is
complex.
F
Important
part
of
of
creating
a
complex
system
is
the
initialization,
and
this,
the
you
know
who
we
bring
into
this
organization
at
the
beginning,
will
have
huge
influence
and
ripple
effects
on
how
that
organization
evolves
and
what
it
ends
up
doing.
This
is
this
is
the
main
difference.
This
is
the
trusted
seed
idea
and
it's
the
main
difference
between
a
coin
and
a
network.
F
That's
actually
going
to
create
value,
so
we
have
to
acknowledge,
especially
in
this
group,
that
we
are
starting
off
centralized,
and
so
we
need
to
take
care
for
that,
just
just
to
make
sure.
Yes,
then
we
decentralize
post
hatch,
it's
decentralized,
but
here
we
are.
F
I
don't
know
if
you
guys
can
even
hear
me
because
my
internet
sucks,
but
I'm
hoping
that
with
some
of
the
some
of
the
few
last
minutes,
that
we
can
actually
try
to
assign
issues
and
and
see
if
we
can
see
if
anyone
wants
to
take
on
some
of
these
issues
and
like
take
it
on
as
a
and
get
some
impact
hours
by
tackling
some
of
our.
The
huge
needs
that
this
working
group
has.
A
So
so
marina,
I'm
gonna
create
an
issue
with
you.
What,
with
the
work,
you
guys
are
doing
already
analyzing
the
law
from
that
that's
going
to
come
out
in
the
in
eu
and
and
maybe
you
can
update
us
in
the
following
meetings.
B
A
So
great
guys,
so
we've
identified
the
the
case
study
the
trying
to
identify
use
cases
where
we
gotta,
we
gotta
be
prepared
from
users
situations
that
they
may
face.
Anyone
who
wants
to
wants
to
help
on
that.
A
I'll
start
with
grief,
grip
actually
has
started
with
the
first
one,
but
it'd
be
great
it'd
be
great.
If,
if
any
of
you
can
cannot
or
or
or
just
let
me
know
if
you,
if
you
think
of
any
situation,
that
you
think
it's
worth
a
little
bit
spending
some
time
and
and
and
figuring
out
if
it's
worth
analyzing
the
impact,
the
legal
impact
we're
also
going
to
be
working
on
on
the
this
legal
document
on
boarding
documents.
A
So
we
have
identified
all
the
aspects
that
we're
gonna
be
considering
for
the
two
phases,
the
hatching
and
the
post-hatching
phase.
And
finally,
the
proposal
or
the
ongoing
phase,
once
everything
is
launched
and
and
we're
gonna
have
marina
and
the
other
legal
colleagues
update
us
on
how
the
legislation
keeps
evolving
and
and
what
what's
ideally
our
path
once
it
just
starts
regulating
the
the
the
space
anything
else
here,
grief
from
your
side.
F
Well,
I
would
be
down
to
like
kind
of
put
people
on
a
spot
on
the
spot
and
see
if
there's
any
issues
that
they
they
they
want
to
take.
I
I
just
want
to
say,
like
you,
don't
have
to
take
any
issues,
there's
a
lot
of
work
in
other
working
groups
that
everyone
is
doing,
but
I
do
want
to
give
everyone
an
open
chance
to
say.
Like
oh
yeah,
this
issue
is
interesting
to
me.
I've
been
excited
about
fairmen
for
a
while.
F
I
would
love
to
take
it
on
so
like
like
the
issues
I
want
to
take
on
are
mostly
around
all
the
common
stacks
stuff,
because
I'm
uniquely
positioned
to
make
sure
those
things
get
there
and
then
aragon's
a
j
token
and
what
they've
done
there.
I
want
to
I'm
going
to
take
on
those
issues
and
hopefully
report
something
back
next
week
and
maybe
I'll
pass
it
to
olivia
and
by
the
way
you
can
definitely
say
no.
B
Thanks
yeah,
I
just
wanted
to
point
that
I
felt
like
when
we
were
talking
about
dx
dao,
marina.
You
were
saying
that
you
were
investigating
things
with
them
already
or
did
I
understand
we
were
discussing.
B
Okay,
yeah,
I'm
I'm
happy
to
help
people
document
stuff.
I
don't
want
to
take
any
point
completely
to
myself
but
like
yeah,
if
marina,
you
want
to
one
day
jump
in
a
30-minute
call
and
just
like
dump
me
all
the
information
that
you
have
about
dx
dao.
I
can
help
documenting
it
or
yeah.
I
can
assist
people
doing
that.
A
Okay,
great
then
we
will.
We
will
create
issues
for
the
two
or
three
organizations
that
we
we
may
be
easily
able
to
find
documentation
and
from
there
we'll
try
to
figure
out
who
can
help
on.
F
Bunch
of
issues
now
on
the
board,
with
the
dx
dow
prime,
now
all
these
guys
so
also
I'm
hoping
that
we
can
try
to
keep
all
of
our
documentation
on
github
in
public
and
accessible
for
everyone
like.
If
someone
gets
busy
and
they
drop
the
issue,
then
other
people
can
pick
it
up
and
it's
just
all.
The
information
is
already
there
in
the
issue
and
also
accessible
to
everyone
else
who
wants
to
come
check
it
out
all.
A
No,
I
just
wanted
to
wrap
up
and
start
passing
to
everyone.
Thank
you.
I
wanna.
Thank
you
all
for
coming.
It's
it's
a
very
interesting
topic.
It's
not
easy,
especially
for
those
like
me
who
are
not
in
the
legal
arena,
but
it's
really
interesting
and
and
important
for
the
organization,
so
I
just
I'll
pass
it
to
zeptimus
yeah.
I
think
you
are
doing
an
incredible
job
here.
I
don't
think
I
can
help
he
on
this
working
group
because
I
think
that
we're
using
here
is
like
must
be
like.
A
Like
I
mean
there
cannot
be
failure
on
anything
because
it's
I
mean
it's
quite
dangerous
I
would
say
like,
but
I'm
really
glad
to
be
here
and-
and
here
like
the
marina
stuff,
when
marina
was
talking.
I
was
amazed
about
the
knowledge
you
had
and
it's
amazing
to
hear
about
to
hear
that
and
I'll
pass
it
to
greg.
E
Morning,
everybody
thanks
for
letting
me
listen.
My
first
answer
is
no.
I
can't
directly
take
anything
on
indirectly.
I
certainly
want
to
try
and
listen
in
to
these
calls
and
follow
and
be
able
to
spread
information,
as
this
group
develops
it
and
personally
it's
it's
a
very
interesting
topic
to
me.
So
the
answer
is
no,
but
yes
and
I'll
pass
it
to
who's
left
marina.
Have
you
gone.
D
Thank
you,
so
I
think
it
to
me
it's
it's
very
interesting.
What
you
griff
suggested.
I
mean
to
talk
to
projects
and
in
new
libya,
for
example,
to
understand
what
the
exile
did.
Angela
and
I
had
some
calls
at
the
beginning
of
the
year
with
vermint
too.
I
also
talked
to
the
guys
from
switzerland.
I
forgot
their
name
they're,
also
working
on
a
similar
thing,
so
that
that
would
be
something
that
I
would
be
very
interested
in
researching
and
for
other
things.
That
was
my
first
call.
D
So
thank
you
for,
for
letting
me
be
a
part
of
it
and
I
pass
it
to
julia.
G
I
I
would
like
to
look
at
the
transition
from
the
closed
hatch,
which
will
be
under
the
auspices
of
the
swiss
association
to
whatever
incorporated
entity
that
would
be
required
under
new
eu
laws.
At
the
moment,
for
example,
lex
fell,
which
I'm
a
member
of.
We
are
a
wyoming
unincorporated
association.
So
it's
pretty
much
like
a
club,
and
that
gets
us
away
from
a
lot
of
legal
liabilities,
but
it
still
has
a
judicial
identity.
G
A
A
Thank
you,
you
want
to
add
anything
else.
F
Very
cool
I'm
gonna
make
an
issue.
Would
you
be
interested
in
in
taking.
C
C
I
would
rather
get
myself
into
like
comparing
the
different
dolls
regarding
to
the
legal
aspects
and
the
economics
and
legal
structure
rather
than
the
soft
governance
group,
because
you
think
that
here
I'm
more
useful
and
more
interested
and
so
useful,
because
I'm
amazing,
I
prefer
the
research
research
part
yeah.
So
I
think
that
they
could
be
involved
in
this
like
making
also
a
table,
or
some
like
of
typologies
of
legal
knowledge
or
structure
of
the
house
and
stuff
like
that,
maybe
with
marina.
If
you
want
to
help
me
with
the
technical
knowledge.
D
D
But
yeah
we're
concluding
now.
I
just
talked
recently
to
some
researchers
from
the
utrecht
university
and
they
are
doing
something
very
interesting
because,
like
I
think
their
first
project
was
evaluation
of
existing
blockchains
and
then
trying
to
have
a
system
where
people
can
actually
choose
which
one
is
the
best
one
for
them
to
work
with
and
now
they're
working
in
a
similar
way
with
dao's,
and
they
already
have
like
a
really
long
list
of
all
the
existing
dials
that
they
were
researching
on.
D
But
they
are
actually
looking
at
the
dao's
as
a
software
platform.
So
they're
not
a
lot
of
them
out
there,
and
I
think
I
mean
I
was
talking
to
them
because
they
were
reaching
out
to
me
if
they
want
to
have
like.
If
because
they
wanted
to
have
an
interview
with
me.
But
I
think
would
be
great
if
they
could
talk
to
someone
from
from
token
engineering
community
and
if
they
are
going,
I
mean
they
could
be
willing
to
share
this
document
with
us.
B
B
A
We
can
try
to
update,
update
you
once
the
meeting
is
over
with
what
we
discuss
here.
A
Okay,
so
we're
gonna
wrap
it
up
here,
it's
past
an
hour,
and
so
again
the
board
will
share
with
you
the
links
we'll
share
the
links
of
the
of
the
issues
on
the
board
from
github,
so
everyone
will
be
able
to
see
to
see
the
different
things
we're
working
on,
and
I
will
see
you
next
week
same
hour,
if
in
mid
in
between
there's
any
anything
that
you
may
be
willing
to
know
interested
I'd,
be
happy
to
get
in
touch
with
you
guys
and
discuss
it
all
right.