Q&A: Bitcoin Foundation eyes legal minefields
In the wake of reports linking the closure of several bitcoin exchanges with recently released guidance by the Financial Crimes Enforcement Network (FinCEN), CoinDesk spoke with Bitcoin Foundation general counsel Patrick Murck about the impact of the FinCEN regulations. (Murck is also a principal and founder of Engage Legal, with expertise in legal and regulatory issues governing the use of bitcoin and virtual economies.) CD: Are you surprised that the regulations are (directly or indirectly) leading to exchange closures? Murch: "No, I'm not surprised. Since long before the guidelines came....
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One of the stated goals of the Bitcoin Foundation is to assist members of the Bitcoin community in getting legal help. Now, they are streamlining the process. Tucked in a blog post reminding members about their legal services, the Foundation quietly announced an upcoming website for its Legal Advocacy Committee. There, working with the Foundation's in-house attorneys, members can be connected with lawyers that are Bitcoin friendly and knowledgeable. At present time, Bitcoin Foundation members needing an attorney referral have to email the Bitcoin Foundation directly. The Foundation can....
On July 9th, Jon Matonis acceptedthe position of Executive Director of theBitcoin Foundation. Jon Matonis is a tech contributor toForbes Magazine, editor of The Monetary Future, and also serves on our editorial board at Bitcoin Magazine. Previously Jon was the CEO of Hushmail and Chief Forex Trader at VISA. How the Bitcoin Foundation will move forward on regulatory and legal issues is of crucial importance to the Bitcoin community. Jon announced a Legal Defense Fund and that it will be structured similarly to that of the Electronic Frontier Foundation. The Foundation intends to file amicus....
The commissioner for voluntary organizations in Malta has warned that he may take legal action against a charity foundation run by cryptocurrency firm Binance for failing to file accounts on multiple occasions. Binance Faces Legal Issues In Malta According to the Times of Malta, the foundation is being sued by the Malta Community Chest Fund, […]
According to the proposer Tangle, the intended foundation will play a key role in limiting the liability for contributors and driving Sushi’s future growth. SushiSwap (SUSHI), a community-led suite of decentralized finance (DeFi) tools, plans to implement a legal structure aimed at mitigating risks for token holders and members of the Sushi protocol. Sushi’s new legal structure will be based on a community-approved proposal from Mar. 20 that cited the need for an association or foundation to help provide legal clarity and administrative support for SushiDAO.Proposal: Sushi Legal Structure....
After staying quiet for an extensive period, The Dogecoin Foundation - an international nonprofit organization associated with the cryptocurrency Dogecoin - recently opened up with the community about its legal restrictions within the US. The association broadly discussed their inability to launch fundraisers in the wake of recent FinCEN rulings that will literally force them to obtain the status of a "Money Services Business". "In a sense," wrote DF, "this scrutiny which the Dogecoin Foundation and other cryptocurrency organizations are facing is one of the disadvantages of creating a....