Legal opinion and regulatory classification for Germany and European Union (Step 1)

[essra]

Dash is still classified as “privacy/anonymity-enhancing” by the European parliament according to a study from April 2020 which could be a threat in the future because the parliament is working on a new regulatory framework for crypto assets, which will result in applicable law expected for autumn 2020.

This new framework could threaten numerous already existing integrations: exchanges, payment companies, shops, ATMs and many more. It would also severely hinder the future growth of Dash in the EU member countries.

We have therefore created a new proposal to deal with this challenge by getting a legal opinion on Dash from a German law firm and approaching the BaFin (German regulator) to receive a regulatory classification.

You can find the proposal on Dashcentral: https://www.dashcentral.org/p/Dash_Embassy_Legal_Q2_2020

And DashNexus: https://app.dashnexus.org/proposals/dash_embassy_legal_q2_2020/overview

 

[SimontheRavager]

UPDATE:

We managed to receive a legal opinion for Germany and the EU, which addresses potential issues that could be caused by PrivateSend in regards to AMLD 5 and FATF. The legal opinion follows the legal position of DCG. According to the law firm, which created the legal opinion, PrivateSend poses no legal complications. This means that PrivateSend shouldn't be an issue in Germany and the rest of the EU anymore.

The document can be found and reviewed here:

https://drive.google.com/file/d/1kc84yfVrmvkIYgvel8ZV1YNHJAwkP-bQ/view?usp=sharing